Terms Used In Alaska Statutes > Title 28 > Chapter 39 - Snowmobiles

• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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}
• commissioner: means the commissioner of administration. See Alaska Statutes 28.90.990
• department: means the Department of Administration. See Alaska Statutes 28.90.990
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Fiduciary: A trustee, executor, or administrator.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Marital deduction: The deduction(s) that can be taken in the determination of gift and estate tax liabilities because of the existence of a marriage or marital relationship.
• motor vehicle: means a vehicle which is self-propelled except a vehicle moved by human or animal power. See Alaska Statutes 28.90.990
• owner: means a person, other than a lienholder, having the property in or title to a vehicle, including but not limited to a person entitled to the use and possession of a vehicle subject to a security interest in another person, but exclusive of a lessee under a lease not intended as security. See Alaska Statutes 28.90.990
• peace officer: means
  (A) an officer of the state troopers. See Alaska Statutes 01.10.060
• person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
• property: includes real and personal property. See Alaska Statutes 01.10.060
• state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
• Trustee: A person or institution holding and administering property in trust.
• Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.
• vehicle: means a device in, upon, or by which a person or property may be transported or drawn upon or immediately over a highway or vehicular way or area. See Alaska Statutes 28.90.990
• writing: includes printing. See Alaska Statutes 01.10.060