Terms Used In Arizona Laws > Title 25 > Chapter 2 - Husband and Wife, Property and Contract Rights

• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Child: means any person under eighteen years of age. See Arizona Laws 8-101
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Devise: To gift property by will.
• Division: means the department of child safety. See Arizona Laws 8-101
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Premarital agreement: means an agreement between prospective spouses that is made in contemplation of marriage and that is effective on marriage. See Arizona Laws 25-201
• Property: means an interest, present or future, legal or equitable, vested or contingent, in real or personal property, including income and earnings. See Arizona Laws 25-201
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.