Arizona Laws 14-2710. Worthier title doctrine; nonrecognition
Current as of: 2024 | Check for updates
|
Other versions
The common law doctrine of worthier title is not recognized in this state. Therefore, language in a governing instrument that describes the beneficiaries of a disposition as the transferor‘s heirs, heirs at law, next of kin, distributees, relatives, or family, or by similar language, does not create or presumptively create a reversionary interest in the transferor.
Terms Used In Arizona Laws 14-2710
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Governing instrument: means a deed, will, trust, insurance or annuity policy, account with pay on death designation, security registered in beneficiary form, pension, profit sharing, retirement or similar benefit plan, instrument creating or exercising a power of appointment or power of attorney or supported decision-making agreement or a dispositive, appointive or nominative instrument of any similar type. See Arizona Laws 14-1201
- State: means a state, territory or possession of the United States, the District of Columbia or the Commonwealth of Puerto Rico. See Arizona Laws 14-9101
- Transferor: means a person who creates a custodial trust by transfer or declaration. See Arizona Laws 14-9101