§ 58-4901 Citation of act
§ 58-4902 Definitions
§ 58-4903 Designation of first-time home buyer savings account; designated beneficiary; contribution limits; responsibilities of account holder; survivorship interest not created for designated beneficiary; payment of such account upon death of account holder
§ 58-4904 Use of account moneys; withdrawals; subject to recapture, when; penalty
§ 58-4905 Annual reporting; forms; rules and regulations
§ 58-4906 Actions that are not a requirement of nor the responsibility or liability of financial institutions; determining a payable on death beneficiary
§ 58-4907 Non-exclusive authority to market the first-time home buyer savings account program by the state treasurer
contract signature

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Terms Used In Kansas Statutes > Chapter 58 > Article 49 - First-Time Home Buyer Savings Account Act

  • Appraisal: A determination of property value.
  • 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
  • Contract: A legal written agreement that becomes binding when signed.
  • Mobile home: means a structure which:

    (1) Is transportable in one or more sections which, in the traveling mode, is 8 body feet or more in width and 36 body feet or more in length and is built on a permanent chassis and designed to be used as a dwelling, with or without a permanent foundation, when connected to the required utilities, and includes the plumbing, heating, air conditioning and electrical systems contained therein; and

    (2) is not subject to the federal manufactured home construction and safety standards established pursuant to 42 U. See Kansas Statutes 77-201

  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • Probate: Proving a will
  • Property: includes personal and real property. See Kansas Statutes 77-201
  • Residence: means the place which is adopted by a person as the person's place of habitation and to which, whenever the person is absent, the person has the intention of returning. See Kansas Statutes 77-201
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201