Terms Used In California Codes > Water Code > Division 11 > Part 10 > Chapter 1 > Article 3 - Equalization

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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}
• Beneficiary: means a person to whom a donative transfer of property is made or that person's successor in interest, and:

  California Probate Code 24

• Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
• 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.
• County: includes city and county. See California Water Code 14
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Instrument: means a will, a document establishing or modifying a trust, a deed, or any other writing that designates a beneficiary or makes a donative transfer of property. See California Probate Code 45
• land: includes city and town lots and excepts improvements. See California Water Code 25500
• Person: means an individual, corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership, limited liability company, association, or other entity. See California Probate Code 56
• Personal property: All property that is not real property.
• Property: means anything that may be the subject of ownership and includes both real and personal property and any interest therein. See California Probate Code 62
• Trust: includes the following:

  California Probate Code 82

• Trustee: A person or institution holding and administering property in trust.
• Trustee: includes an original, additional, or successor trustee, whether or not appointed or confirmed by a court. See California Probate Code 84
• Will: includes codicil and any testamentary instrument which merely appoints an executor or revokes or revises another will. See California Probate Code 88