700.2601 Definitions. Sec. 2601. As used in this part: (a) “Alternative devise” means a devise that is expressly created by the will and, under the terms of the will, can take effect instead of another devise on the happening of 1 or more events, including survival of the testator or failure to survive the testator, […]
700.2602 Scope; passage of property and after-acquired property. Sec. 2602. (1) In the absence of a finding of a contrary intention, the rules of construction in this part control the construction of a will. (2) A will may provide for the passage of all property that the testator owns at death and all property acquired […]
700.2603 Substitute gift. Sec. 2603. (1) If a devisee fails to survive the testator and is a grandparent, a grandparent’s descendant, or a stepchild of either the testator or the donor of a power of appointment exercised by the testator’s will, the following apply: (a) Except as provided in subdivision (d), if the devise is […]
700.2604 Failure of testamentary provision. Sec. 2604. (1) Except as provided in section 2603, a devise, other than a residuary devise, that fails for any reason becomes a part of the residue. (2) Except as provided in section 2603, if the residue is devised to 2 or more persons, the share of a residuary devisee […]
700.2605 Increase in securities; accessions. Sec. 2605. (1) If a testator executes a will that devises securities and the testator then owns securities that meet the description in the will, the devise includes additional securities owned by the testator at death to the extent the additional securities are acquired by the testator after the will […]
700.2606 Nonademption of specific devises; unpaid proceeds of sale, condemnation, or insurance; sale by conservator or agent. Sec. 2606. (1) A specific devisee has a right to the specifically devised property in the testator’s estate at death and all of the following: (a) Any balance of the purchase price, together with any security agreement, owing […]
700.2607 Nonexoneration. Sec. 2607. A specific devise and a transfer under an exercise of a power of appointment that is equivalent to a specific devise, including the exercise of a right to withdraw specific property, passes subject to any mortgage or other security interest existing on the date of death, without right of exoneration, regardless […]
700.2608 Ademption by satisfaction. Sec. 2608. (1) Property a testator gave in his or her lifetime to a person is treated as a satisfaction of a devise in whole or in part only if any of the following are true: (a) The will provides for a deduction of the gift. (b) The testator declared in […]
