“Beneficiary” means a person who receives property under a transfer on death deed.
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Terms Used In Utah Code 75-6-402
Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
Deed: The legal instrument used to transfer title in real property from one person to another.
Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See Utah Code 75-6-402
Property: means an interest in real property located in this state that is transferable on the death of the owner. See Utah Code 75-6-402
Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
Transfer on death deed: means a deed authorized under this part. See Utah Code 75-6-402
Transferor: means an individual, in their individual capacity, who makes a transfer on death deed. See Utah Code 75-6-402
(2)
“Class gift” means a transfer to a group of persons who are classified by their relationship to one another or the transferor, and who are not individually named in the transferring document.
(3)
“Designated beneficiary” means a person designated to receive property in a transfer on death deed.
(4)
“Individual” means a natural person.
(5)
(a)
“Joint owner” means an individual who owns property concurrently with one or more other individuals with a right of survivorship.
(b)
“Joint owner” includes a joint tenant, owner of community property with a right of survivorship, and tenant by the entirety.
(c)
“Joint owner” does not include a tenant in common or owner of community property without a right of survivorship.
(6)
“Natural person” means a human being.
(7)
“Person” means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity.
(8)
“Property” means an interest in real property located in this state that is transferable on the death of the owner.
(9)
“Transfer on death deed” means a deed authorized under this part.
(10)
“Transferor” means an individual, in their individual capacity, who makes a transfer on death deed.
