Terms Used In Arizona Laws > Title 14 > Chapter 10 - Uniform Disclaimer of Property Interests Act
Agent: includes an attorney-in-fact under a durable or nondurable power of attorney, a person who is authorized to make decisions concerning another person's health care and a person who is authorized to make decisions for another person under a natural death act. See Arizona Laws 14-1201
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.
Association: means every association to which this chapter applies as defined in the section concerning scope of chapter. See Arizona Laws 6-401
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
Beneficiary: means an individual for whom property has been transferred to, or held under a declaration of trust by, a custodial trustee for the individual's use and benefit under this chapter. See Arizona Laws 14-9101
Beneficiary designation: refers to a governing instrument naming a beneficiary of an insurance or annuity policy, of an account with pay on death designation, of a security registered in beneficiary form or of a pension, profit sharing, retirement or similar benefit plan, or any other nonprobate transfer at death. See Arizona Laws 14-1201
Electronic: means having electrical, digital, magnetic, optical, electromagnetic or similar capabilities. See Arizona Laws 14-1201
Estate: includes the property of the decedent, trust or other person whose affairs are subject to this title as originally constituted and as it exists from time to time during administration. See Arizona Laws 14-1201
Fiduciary: A trustee, executor, or administrator.
Fiduciary: means a personal representative, a trustee, an agent acting under a power of attorney or any other person who is authorized to act as a fiduciary with respect to the property of another person. See Arizona Laws 14-10002
Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
Inter vivos: Transfer of property from one living person to another living person.
Intestate: Dying without leaving a will.
Jointly held property: means property held in the name of two or more persons under an arrangement in which all holders have concurrent interests and under which the last surviving holder is entitled to the whole of the property. See Arizona Laws 14-10002
Lien: A claim against real or personal property in satisfaction of a debt.
Personal property: includes money, goods, chattels, things in action and evidences of debt. See Arizona Laws 1-215
Personal property: All property that is not real property.
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
Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
Security: includes any note, stock, treasury stock, bond, debenture, evidence of indebtedness, certificate of interest or participation in an oil, gas or mining title or lease or in payments out of production under that title or lease, collateral trust certificate, transferable share or voting trust certificate and, in general, includes any interest or instrument commonly known as a security, or any certificate of interest or participation, any temporary or interim certificate, receipt or certificate of deposit for, or any warrant or right to subscribe to or purchase, any of these securities. 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
Survive: means that a person has neither predeceased an event, including the death of another person, nor is deemed to have predeceased an event under section 14-2104 or 14-2702. See Arizona Laws 14-1201
Tangible medium: means a medium on which information may be inscribed by writing, typing, printing or similar means and that is perceivable by reading directly from the medium on which the information is inscribed. See Arizona Laws 14-1201
Transferor: means a person who creates a custodial trust by transfer or declaration. See Arizona Laws 14-9101
Trust: includes an express trust, private or charitable, with any additions, wherever and however created. See Arizona Laws 14-1201
Trustee: includes an original, additional or successor trustee, whether or not appointed or confirmed by the court. 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