Maryland Code, ESTATES AND TRUSTS 4-301
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Maryland Code, ESTATES AND TRUSTS 4-301
- 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.
- Legatee: A beneficiary of a decedent
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
Any individual, firm, trust, partnership, unincorporated association, corporation, or a governmental body may be a legatee.