Terms Used In Utah Code > Title 75 > Chapter 6 > Part 2 - Provisions Relating to Effect on Death

• Contract: A legal written agreement that becomes binding when signed.
• Decedent: A deceased person.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Person: means :Utah Code 68-3-12.5
• Property: includes both real and personal property. See Utah Code 68-3-12.5
• 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
• Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.
• Writing: includes :Utah Code 68-3-12.5