Michigan Laws > Chapter 554 > Act 148 of 2008 – Personal Property Trust Perpetuities Act
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Terms Used In Michigan Laws > Chapter 554 > Act 148 of 2008 - Personal Property Trust Perpetuities Act
- Donee: The recipient of a gift.
- Fiduciary: A trustee, executor, or administrator.
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
- Trustee: A person or institution holding and administering property in trust.