Rhode Island General Laws 33-19.1-6. Failure of gift
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If a gift fails under this chapter, the instrument making the gift shall operate as if the beneficiary had predeceased the transferor without spouse, domestic partner, or issue.
History of Section.
P.L. 2014, ch. 491, § 1.
Terms Used In Rhode Island General Laws 33-19.1-6
- 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
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.