Nebraska Statutes > State Acceptance of Gifts Act


§ 81-1,109	State Acceptance of Gifts Act, how cited
§ 81-1,110	Purpose of act
§ 81-1,111	Terms, defined
§ 81-1,112	Gift; allocation; use; approval, required; terms or conditions
§ 81-1,113	Gift or acquisition of real property; state building division; Task Force for Building Renewal; reviews required; report; approval; when required
§ 81-1,114	Gift of personal property; approval by Governor; required, when
§ 81-1,115	Gift of money; approval of Governor; required, when; expenditures

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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.
Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
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