Alabama Code 43-8-291. Right to disclaim interest in property
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Alabama Code 43-8-291
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Contract: A legal written agreement that becomes binding when signed.
- Donee: The recipient of a gift.
- Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
- Legatee: A beneficiary of a decedent
- person: includes a corporation as well as a natural person. See Alabama Code 1-1-1
- property: includes both real and personal property. See Alabama Code 1-1-1
- Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.