Arizona Laws 14-3904. Interest on general pecuniary devise
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Unless a contrary intention is indicated by the will, general pecuniary devises bear interest at the legal rate beginning one year after the first appointment of a personal representative until payment.
Terms Used In Arizona Laws 14-3904
- Personal representative: includes an executor, an administrator, a successor personal representative, a special administrator and persons who perform substantially the same function under the law governing their status. See Arizona Laws 14-1201
- Will: includes a codicil and any testamentary instrument that merely appoints an executor, revokes or revises another will, nominates a guardian or expressly excludes or limits the right of an individual or class to succeed to property of the decedent passing by intestate succession. See Arizona Laws 14-1201