New York Laws > Correction > Article 24 – Provisions Applicable to Sentences Imposed Under the the Revised Penal Plan
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Terms Used In New York Laws > Correction > Article 24 - Provisions Applicable to Sentences Imposed Under the the Revised Penal Plan
- 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
- Decedent: A deceased person.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- 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.
- Testator: A male person who leaves a will at death.
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
- Trustee: A person or institution holding and administering property in trust.