Nonprobate transfer means an instrument, other than a
Nonprobate transfer means a valid transfer effective at death, other than a transfer of a survivorship interest in a joint tenancy of real estate, by a transferor whose last domicile was in this State to the extent that the transferor immediately before death had power, acting alone, to prevent the transfer by revocation or withdrawal and instead to use the property for the benefit of the transferor or apply it to discharge claims against the transferor’s probate estate. The recipients of nonprobate transfers can be required to contribute to pay allowed claims and statutory allowances to the extent the probate estate is inadequate. The maximum liability for a single nonprobate transferee is the value of the transfer. If there are no probate assets, a creditor or other person would first need to secure appointment of a personal representative to invoke Code procedures for establishing a creditor’s claim as “allowed.”
Nonprobate transfer means an instrument, other than a will, that makes a transfer of property on death, including a revocable trust, pay on death account in a financial institution, Totten trust, transfer on death registration of personal property, revocable transfer on death deed, or other instrument of a type described in Section 5000 of the Probate Code.
Examples of Nonprobate transfer in a sentence
IC 29-1-8-10 Nonprobate transfer by a transferee that is a testamentary trust established in a will; applicationSec.
Nonprobate transfer" means a transfer of property taking effect upon the death of the owner, pursuant to a beneficiary designation.
As amended by Acts 1982, P.L.171, SEC.26.IC 29-1-8-10 Nonprobate transfer by a transferee that is a testamentary trust established in a will; applicationSec.
Nonprobate transfer of real property, Sitkoff/Dukeminier, pages 496-498.
Nonprobate transfer of real property, Sitkoff/Dukeminier, pages 505-506.
More Definitions of Nonprobate transfer
Nonprobate transfer means a transfer of any
Nonprobate transfer means a valid transfer effective at death, other than a transfer of a survivorship interest in a joint tenancy of real estate, by a transferor whose last domicile was in this State to the extent that the transferor immediately before death had power, acting alone, to prevent the transfer by revocation or withdrawal and instead to use the property for the benefit of the transferor or apply it to discharge claims against the transferor’s probate estate.
Nonprobate transfer means a transfer of property taking effect upon the death of the owner, pursuant to a beneficiary designation. A nonprobate transfer under the provisions of this act does not include survivorship rights in property held as joint tenants or tenants by the entirety, a transfer to a remainderman on termination of a life tenancy, a transfer under a trust established by an individual, either inter vivos or testamentary, a transfer pursuant to the exercise or nonexercise of a power of appointment, or a transfer made on death of a person who did not have the right to designate his or her estate as the beneficiary of the transfer;
Nonprobate transfer means an instrument, other than a will,
Nonprobate transfer means a transfer of any property or
Nonprobate transfer means a transfer of any property or interest in property from a decedent to one or more other persons by operation of law or by contract that is effective upon the death of the decedent and includes, without limitation:
Nonprobate transfer means a valid transfer, effective at death, by a