As used in this article, unless the context otherwise requires, “transaction” includes, but is not limited to, making a contract, sale, transfer, or conveyance, incurring a debt or encumbering property, making a gift, delegating a power, and waiving a right.

(Enacted by Stats. 1990, Ch. 79.)

Terms Used In California Probate Code 1870

  • Contract: A legal written agreement that becomes binding when signed.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Property: means anything that may be the subject of ownership and includes both real and personal property and any interest therein. See California Probate Code 62
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