Common use of WAIVER OF RIGHTS ON DEATH OF OTHER PARTY Clause in Contracts

WAIVER OF RIGHTS ON DEATH OF OTHER PARTY. ______Except for Wife’s rights under Paragraph 3.02 of this agreement, each party hereby waives the right to receive any property or rights whatsoever on the death of the other, unless such right is created or affirmed by the other under a will or other written document executed after the effective date of this agreement. Each party believes that he or she has received a fair and reasonable disclosure of the property and financial obligations of the other party. Each party’s waiver is intended to be an enforceable waiver of that party’s rights under Probate Code sections 140-147. (a) Property that would pass from the decedent by intestate succession; (b) Property that would pass from the decedent by testamentary disposition; (c) A probate homestead; (d) The setting aside of exempt property; (e) A family allowance; (f) The setting aside of an estate; (g) An election to take community or quasi-community property against the decedent’s will; (h) The statutory share of an omitted spouse; (i) An appointment as executor or administrator of the decedent’s estate, except as the nominee of a third party legally entitled to make such a nomination; (j) Property that would pass from the decedent by nonprobate transfer, such as the survivorship interest under a joint tenancy, a Xxxxxx trust account, or a payable-on-death account; and (k) Proceeds as a beneficiary of any type of insurance policy.

WAIVER OF RIGHTS ON DEATH OF OTHER PARTY. ______Except for Wife’s rights under Paragraph 3.02 of this agreement, each party hereby waives the right to receive any property or rights whatsoever on the death of the other, unless such right is created or affirmed by the other under a will or other written document executed after the effective date of this agreement. Each party believes that he or she has received a fair and reasonable disclosure of the property and financial obligations of the other party. Each party’s waiver is intended to be an enforceable waiver of that party’s rights under Probate Code sections 140-147. (a) Property that would pass from the decedent by intestate succession; (b) Property that would pass from the decedent by testamentary disposition; (c) A probate homestead; (d) The setting aside of exempt property; (e) A family allowance; (f) The setting aside of an estate; (g) An election to take community or quasi-community property against the decedent’s will; (h) The statutory share of an omitted spouse; (i) An appointment as executor or administrator of the decedent’s estate, except as the nominee of a third party legally entitled to make such a nomination; (j) Property that would pass from the decedent by nonprobate transfer, such as the survivorship interest under a joint tenancy, a Xxxxxx trust account, or a payable-on-death account; and (k) Proceeds as a beneficiary of any type of insurance policy.

WAIVER OF RIGHTS ON DEATH OF OTHER PARTY. ______Except for Wife’s rights under Paragraph 3.02 of this agreement, each party hereby waives the right to receive any property or rights whatsoever on the death of the other, unless such right is created or affirmed by the other under a will or other written document executed after the effective date of this agreement. Each party believes that he or she has received a fair and reasonable disclosure of the property and financial obligations of the other party. Each party’s waiver is intended to be an enforceable waiver of that party’s rights under Probate Code sections 140-147.. The rights waived include, but are not limited to, rights to any of the following: (a) Property that would pass from the decedent by intestate succession; (b) Property that would pass from the decedent by testamentary disposition; (c) A probate homestead; (d) The setting aside of exempt property; (e) A family allowance; (f) The setting aside of an estate; (g) An election to take community or quasi-community property against the decedent’s will; (h) The statutory share of an omitted spouse; (i) An appointment as executor or administrator of the decedent’s estate, except as the nominee of a third party legally entitled to make such a nomination; (j) Property that would pass from the decedent by nonprobate no probate transfer, such as the survivorship interest under a joint tenancy, a Xxxxxx Totem trust account, or a payable-on-death account; and (k) Proceeds as a beneficiary of any type of insurance policy.