Nebraska Statutes 81-1,111. Terms, defined
For purposes of the State Acceptance of Gifts Act:
Terms Used In Nebraska Statutes 81-1,111
- Bequest: Property gifted by will.
- 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.
- Devise: To gift property by will.
- Donor: The person who makes a gift.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Personal property: All property that is not real property.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801
- Trustee: A person or institution holding and administering property in trust.
- Year: shall mean calendar year. See Nebraska Statutes 49-801
(1) Donor means (a) an individual, trustee, personal representative, or other legal representative of an individual or an organization, (b) any organization, corporation, foundation, or other entity, and (c) a nonfederal governmental agency;
(2) Gift means a voluntary transfer by any means, including a grant, bequest, or devise, of real property or tangible or intangible personal property, including money, by a donor to a state agency without full compensation;
(3) Real property means any estate or interest in land, including all buildings, fixtures, and improvements thereon and all rights-of-way, easements, rents, issues, profits, income, tenements, hereditaments, privileges, and appurtenances thereunto belonging, used, or enjoyed with such land, or any part thereof, except leases for a term not exceeding one year; and
(4) State agency means any agency, board, or commission of this state, excluding (a) the University of Nebraska, (b) the Nebraska state colleges, and (c) any agency, board, or commission of this state with statutory authority to accept gifts, to the extent of the authority granted.