Terms Used In Michigan Laws > Chapter 141 > Act 121 of 1969 - Bonds or Notes for Capital Improvements

• Application: means a written request to the probate register for an order of informal probate or informal appointment under part 3 of article III. See Michigan Laws 700.1103
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Contract: A legal written agreement that becomes binding when signed.
• Court: means the probate court or, when applicable, the family division of circuit court. See Michigan Laws 700.1103
• Decedent: A deceased person.
• Estate: includes the property of the decedent, trust, or other person whose affairs are subject to this act as the property is originally constituted and as it exists throughout administration. See Michigan Laws 700.1104
• Exempt property: means property of a decedent's estate that is described in section 2404. See Michigan Laws 700.1104
• Family allowance: means the allowance prescribed in section 2403. See Michigan Laws 700.1104
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Foreign personal representative: means a personal representative appointed by another jurisdiction. See Michigan Laws 700.1104
• Homestead allowance: means the allowance prescribed in section 2402. See Michigan Laws 700.1104
• in writing: shall be construed to include printing, engraving, and lithographing; except that if the written signature of a person is required by law, the signature shall be the proper handwriting of the person or, if the person is unable to write, the person's proper mark, which may be, unless otherwise expressly prohibited by law, a clear and classifiable fingerprint of the person made with ink or another substance. See Michigan Laws 8.3q
• Issue: means an individual's descendant. See Michigan Laws 700.1105
• Local administration: means administration by a personal representative appointed in this state under an appointment proceeding described in article III. See Michigan Laws 700.4101
• Local personal representative: includes a personal representative appointed in this state under an appointment proceeding described in article III and excludes a foreign personal representative who acquires the power of a local personal representative under section 4203. See Michigan Laws 700.4101
• Nonresident decedent: means a decedent who was domiciled in another jurisdiction at the time of his or her death. See Michigan Laws 700.1106
• 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.
• Person: means an individual or an organization. See Michigan Laws 700.1106
• Personal property: All property that is not real property.
• Personal representative: includes , but is not limited to, an executor, administrator, successor personal representative, and special personal representative, and any other person, other than a trustee of a trust subject to article VII, who performs substantially the same function under the law governing that person's status. See Michigan Laws 700.1106
• Petition: means a written request to the court for an order after notice. See Michigan Laws 700.1106
• Proceeding: includes an application and a petition, and may be an action at law or a suit in equity. See Michigan Laws 700.1106
• Property: means anything that may be the subject of ownership, and includes both real and personal property or an interest in real or personal property. See Michigan Laws 700.1106
• State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or a territory or insular possession subject to the jurisdiction of the United States. See Michigan Laws 700.1107