Utah Code 75-6-402. Definitions
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As used in this part:
(1) “Beneficiary” means a person who receives property under a transfer on death deed.
Terms Used In Utah Code 75-6-402
- Community property with a right of survivorship: means joint tenants with the right of survivorship. See Utah Code 75-1-201 v2
- 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.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Estate: includes the property of the decedent, trust, or other person whose affairs are subject to this title as originally constituted and as it exists from time to time during administration. See Utah Code 75-1-201 v2
- Individual: means a natural person. See Utah Code 75-6-402
- Natural person: means a human being. See Utah Code 75-6-402
- 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.
- Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See Utah Code 75-6-402
- Property: means an interest in real property located in this state that is transferable on the death of the owner. See Utah Code 75-6-402
- Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
- State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, any territory or insular possession subject to the jurisdiction of the United States, or a Native American tribe or band recognized by federal law or formally acknowledged by a state. See Utah Code 75-1-201 v2
- Transfer on death deed: means a deed authorized under this part. See Utah Code 75-6-402
- Transferor: means an individual, in their individual capacity, who makes a transfer on death deed. See Utah Code 75-6-402
- Trust: includes :(60)(a)(i) a health savings account, as defined in Section 223of the Internal Revenue Code;(60)(a)(ii) an express trust, private or charitable, with additions thereto, wherever and however created; or(60)(a)(iii) a trust created or determined by judgment or decree under which the trust is to be administered in the manner of an express trust. See Utah Code 75-1-201 v2(2) “Class gift” means a transfer to a group of persons who are classified by their relationship to one another or the transferor, and who are not individually named in the transferring document.(3) “Designated beneficiary” means a person designated to receive property in a transfer on death deed.(4) “Individual” means a natural person.(5)(5)(a) “Joint owner” means an individual who owns property concurrently with one or more other individuals with a right of survivorship.(5)(b) “Joint owner” includes a joint tenant, owner of community property with a right of survivorship, and tenant by the entirety.(5)(c) “Joint owner” does not include a tenant in common or owner of community property without a right of survivorship.(6) “Natural person” means a human being.(7) “Person” means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity.(8) “Property” means an interest in real property located in this state that is transferable on the death of the owner.(9) “Transfer on death deed” means a deed authorized under this part.(10) “Transferor” means an individual, in their individual capacity, who makes a transfer on death deed.