Terms Used In California Codes > Probate Code > Division 9 > Part 8 > Chapter 12 - Distributee Liability

• Claim: means a demand for payment for any of the following, whether due, not due, accrued or not accrued, or contingent, and whether liquidated or unliquidated:

  California Probate Code 19000

• County: includes city and county. See California Water Code 14
• Creditor: means a person who may have a claim against the trust property. See California Probate Code 19000
• Deceased settlor: means a deceased person who, at the time of his or her death, held the power to revoke the trust in whole or in part. See California Probate Code 19000
• Deed: The legal instrument used to transfer title in real property from one person to another.
• 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.
• Person: means any person, firm, association, organization, partnership, business trust, corporation, limited liability company, or company. See California Water Code 19
• Person: means an individual, corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership, limited liability company, association, or other entity. See California Probate Code 56
• Probate: Proving a will
• Probate estate: means a decedent's estate subject to administration pursuant to Division 7 (commencing with Section 7000). See California Probate Code 19000
• 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
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• State: means the State of California, unless applied to the different parts of the United States. See California Water Code 18
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• Trust: means a trust described in Section 18200, or, if a portion of a trust, that portion that remained subject to the power of revocation at the deceased settlor's death. See California Probate Code 19000
• Trust estate: means a decedent's property, real and personal, that is titled in the name of the trustee of the deceased settlor's trust or confirmed by order of the court to the trustee of the deceased settlor's trust. See California Probate Code 19000
• Trustee: includes an original, additional, or successor trustee, whether or not appointed or confirmed by a court. See California Probate Code 84
• Trustee: A person or institution holding and administering property in trust.