Arizona Laws 14-2708. Class gifts to descendants, issue or heirs of the body; form of distribution if none specified
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If a class gift in favor of descendants, issue or heirs of the body does not specify the manner in which the property is to be distributed among the family members who comprise that class, the property that comprises the class gift is distributed among the class members who are living when the interest is to take effect in possession or enjoyment. These class members receive shares they would receive under the applicable law of intestate succession if the designated ancestor had died intestate owning the subject matter of the class gift.
Terms Used In Arizona Laws 14-2708
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Intestate: Dying without leaving a will.
- Property: includes both real and personal property. See Arizona Laws 1-215