Maine Revised Statutes Title 19-A Sec. 801 – Holding and disposing of property
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Terms Used In Maine Revised Statutes Title 19-A Sec. 801
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Person: means an individual, trust, estate, partnership, association, company, corporation, political subdivision of the State, instrumentality of the State or other entity. See Maine Revised Statutes Title 19-A Sec. 101
A married person, widow or widower of any age may own in the person’s own right real and personal estate acquired by descent, gift or purchase. [PL 1995, c. 694, Pt. B, §2 (NEW); PL 1995, c. 694, Pt. E, §2 (AFF).]
SECTION HISTORY
PL 1995, c. 694, §B2 (NEW). PL 1995, c. 694, §E2 (AFF).