WILLIAM DONALD SCHAEFER, Governor

Ch. 2

(B)  ESTATE.

"ESTATE" MEANS PROPERTY THAT IS SUBJECT TO ADMINISTRATION
UNDER THE ESTATES AND TRUSTS ARTICLE AS THE ESTATE OF A DECEDENT.

REVISOR'S NOTE: This subsection is new language added for
clarity.

Defined term: "Property" § 1-101

(C)  LESS THAN ABSOLUTE INTEREST.

(1)  "LESS THAN ABSOLUTE INTEREST" MEANS AN INTEREST
LESS THAN AN ABSOLUTE INTEREST IN PROPERTY, IN TRUST OR
OTHERWISE.

(2)  "LESS THAN ABSOLUTE INTEREST" INCLUDES:

(I)  A LIFE ESTATE;

(II)  AN INTEREST FOR A TERM OF YEARS;

(III)  A CONTINGENT OR VESTED REMAINDER, OR
EXECUTORY OR REVERSIONARY INTEREST THAT A PERSON OTHER THAN THE
DECEDENT CREATES; OR

(IV)  ANY OTHER INTEREST THAT IS LESS THAN
ABSOLUTE.

REVISOR'S NOTE: This subsection is new language derived
without substantive change from the references, in the
first sentence of former Art. 81, § 160, to interests
in property of a less than absolute interest.

It is revised to define "less than absolute interest",
to allow concise references to these interests.

In paragraph (2)(iii) of this subsection, the
references to a "vested" remainder and an "executory"
interest are added to clarify the broad scope of the
less than absolute interest.

Defined terms: "Person" § 1-101
"Property" § 1-101

(D)  PROPERTY THAT PASSES FROM A DECEDENT.

(1) "PROPERTY THAT PASSES FROM A DECEDENT" INCLUDES:

(I)  PROPERTY THAT PASSES, BY WILL OR UNDER THE
INTESTATE LAWS OF THE STATE, AT OR AFTER THE DEATH OF A DECEDENT,
IN TRUST OR OTHERWISE, TO OR FOR THE USE OF ANOTHER PERSON;

(II)  PROPERTY IN WHICH, AT DEATH, A DECEDENT
HAD AN INTEREST AS A JOINT TENANT; OR

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