Terms Used In U.S. Code > Title 54 > Subtitle III > Chapter 3121 - National Trust for Historic Preservation in the United States

• Bequest: Property gifted by will.
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Devise: To gift property by will.
• Ex officio: Literally, by virtue of one's office.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• officer: includes any person authorized by law to perform the duties of the office. See 1 USC 1
• Personal property: All property that is not real property.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• 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.
• State: means a State, the District of Columbia, the Commonwealth of Puerto Rico, or any other territory or possession of the United States. See 1 USC 7
• Trustee: A person or institution holding and administering property in trust.
• Venue: The geographical location in which a case is tried.