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New York Estates, Powers and Trusts Law Section 1-2.20 - Lifetime trust

Legal Research Home > New York Lawyer > Estates, Powers and Trusts > New York Estates, Powers and Trusts Law Section 1-2.20 - Lifetime trust

  § 1-2.20. Lifetime trust
    The  term  "lifetime  trust"  shall  mean  an  express  trust  and all
  amendments thereto created other than by will and shall not  include;  a
  trust for the benefit of creditors, a resulting or constructive trust, a
  business  trust  where certificates of beneficial interest are issued to
  the  beneficiary,  an  investment  trust,  voting  trust,   a   security
  instrument  such  as  a deed of trust and a mortgage, a trust created by
  the judgment or decree of  a  court,  a  liquidation  or  reorganization
  trust,  a  trust  for  the  sole  purpose of paying dividends, interest,
  interest coupons, salaries,  wages,  pensions  or  profits,  instruments
  wherein  persons  are  mere  nominees  for others, or a trust created in
  deposits in any banking institution or savings and loan institution.

Last modified: July 31, 2006