Terms Used In Alabama Code > Title 7 > Article 12A > Part 2 - General Transitional Provision

• Bequest: Property gifted by will.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Probate: Proving a will
• property: includes both real and personal property. See Alabama Code 1-1-1
• state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}