§ 1 Definitions
§ 2 Asset management board; establishment; membership
§ 4 Board; powers and duties
§ 5 Inventory of assets; proposed projects involving real property interests; notice of submission
§ 6 Development and management of proposed projects; assistance
§ 7 Real property; title held by state agency prior to enactment of chapter 7, Sec. 40E
§ 8 Asset management project trust funds; establishment
§ 9 Effect on powers and duties of capital asset management and maintenance division

Terms Used In Massachusetts General Laws > Chapter 7B - Asset Management Board

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • 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
  • Ex officio: Literally, by virtue of one's office.
  • Fiduciary: A trustee, executor, or administrator.
  • Interests: includes any form of membership in a domestic or foreign nonprofit corporation. See Massachusetts General Laws ch. 156D sec. 11.01
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Marital deduction: The deduction(s) that can be taken in the determination of gift and estate tax liabilities because of the existence of a marriage or marital relationship.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Personal property: All property that is not real property.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Trustee: A person or institution holding and administering property in trust.