Terms Used In Texas Estates Code Chapter 503 - Recording of Foreign Testamentary Instrument

• 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}
• Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Department: means the Department of Agriculture. See Texas Agriculture Code 1.003
• Devise: To gift property by will.
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• 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.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Justice: when applied to a magistrate, means justice of the peace. See Texas Government Code 312.011
• Livestock: means cattle, horses, mules, asses, sheep, goats, llamas, alpacas, exotic livestock, including elk and elk hybrids, and hogs, unless otherwise defined. See Texas Agriculture Code 1.003
• Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
• Population: means the population shown by the most recent federal decennial census. See Texas Government Code 311.005
• Probate: Proving a will
• Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
• Rule: includes regulation. See Texas Government Code 311.005
• Trustee: A person or institution holding and administering property in trust.
• United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005
• Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
• Year: means 12 consecutive months. See Texas Government Code 311.005