Maine Revised Statutes > Title 18-B > Part 1 > Chapter 5 – Creditor’s Claims; Spendthrift and Discretionary Trusts
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Terms Used In Maine Revised Statutes > Title 18-B > Part 1 > Chapter 5 - Creditor's Claims; Spendthrift and Discretionary Trusts
- 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
- Historic property: shall mean a structure, a plot of land which was the setting of an event or any combination of land and buildings, including the surrounding air space, which has a special historical, architectural or archaeological interest or value, and which is predominantly in its original, historical or natural conditions. See Maine Revised Statutes Title 33 Sec. 1551
- Holder: means :
A. See Maine Revised Statutes Title 33 Sec. 1581Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury. Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor. Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. Majority: when used in reference to age shall mean the age of 18 and over. See Maine Revised Statutes Title 1 Sec. 72 Municipal officers: means :
A. See Maine Revised Statutes Title 30-A Sec. 2001Municipality: means a city or town, except as provided in chapter 225. See Maine Revised Statutes Title 30-A Sec. 2001 Person: means an individual, corporation, partnership, firm, organization or other legal entity. See Maine Revised Statutes Title 30-A Sec. 2001 Preservation agreement: shall mean any deed, will or other instrument executed by or on behalf of the owner of historic property, or an order of taking, which includes within it the terms of a preservation interest. See Maine Revised Statutes Title 33 Sec. 1551 Preservation interest: shall mean a right created by a preservation agreement which may be in the form of a restriction, easement, covenant or condition which is held by a qualified holder and which pertains to preserving or restoring historic property. See Maine Revised Statutes Title 33 Sec. 1551 Probate: Proving a will Qualified holder: shall mean a nonprofit preservation or historical organization whose purposes include preservation of historic property or a governmental body. See Maine Revised Statutes Title 33 Sec. 1551 Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land. Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust). Trail easement: means a nonpossessory interest of a holder in real property for the purposes of creating and maintaining a trail for use by the general public:
A. See Maine Revised Statutes Title 33 Sec. 1581Trustee: A person or institution holding and administering property in trust.