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Incident of Ownership

Some aspect of the exclusive possession or control over the disposition or use of property that demonstrates that the person with such exclusive rights has not relinquished them.

A person who has kept the right to change the beneficiaries on his or her life insurance policy has retained an incident of ownership and is, therefore, considered the owner of the policy.

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Law Library - American Law and Legal InformationFree Legal Encyclopedia: Hypoxia to Indirect evidence