Oregon Statutes > Chapter 129 > Decedents Estate or Terminating Income Interest
Current as of: 2023 | Check for updates
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Other versions
| § 129.250 | UPIA 201. Determination and distribution of net income |
| § 129.255 | UPIA 202. Distribution to residuary and remainder beneficiaries |
Terms Used In Oregon Statutes > Chapter 129 > Decedents Estate or Terminating Income Interest
- 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
- Decedent: A deceased person.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- 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: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.