Terms Used In California Codes > Probate Code > Division 2 > Part 14 > Chapter 4 > Article 4 - Types of Appointments

• Appointive property: means the property or interest in property that is the subject of the power of appointment. See California Probate Code 610
• 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.
• Creating instrument: means the deed, will, trust, or other writing or document that creates or reserves the power of appointment. See California Probate Code 610
• Executor: A male person named in a will to carry out the decedent
• Fiduciary: A trustee, executor, or administrator.
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Inter vivos: Transfer of property from one living person to another living person.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Person: means any person, firm, association, organization, partnership, business trust, corporation, limited liability company, or company. See California Health and Safety Code 19
• Power of appointment: means a power that enables a powerholder acting in a nonfiduciary capacity to designate a recipient of an ownership interest in or another power of appointment over the appointive property. See California Probate Code 610
• Powerholder: means the person to whom a power of appointment is given or in whose favor a power of appointment is reserved. See California Probate Code 610
• State: means the State of California, unless applied to the different parts of the United States. See California Health and Safety Code 23
• Trust: includes the following:

  California Probate Code 82

• Trustee: A person or institution holding and administering property in trust.