Court Opinions
State Laws
|
New York Estates, Powers & Trusts - Part 1 - (7-1.1 - 7-1.19) Rules Governing Trusts
Legal Research Home >
New York Laws > New York Estates, Powers & Trusts (EPT) > New York Estates, Powers & Trusts - Part 1 - (7-1.1 - 7-1.19) Rules Governing Trusts
- New York Estates, Powers & Trusts - Part 1 - Rules Governing Trusts
- New York Estates, Powers & Trusts - § 7-1.1 - When Trust Interests Not to Merge
A trust is not merged or invalid because a person, including but not limited to the creator of the trust, is or may become the...
- New York Estates, Powers & Trusts - § 7-1.2 - Trustee of Passive Trust Not to Take
Every disposition of property shall be made directly to the person in whom the right to possession and income is intended to be vested and...
- New York Estates, Powers & Trusts - § 7-1.3 - Purchase-money Resulting Trust Abolished
(a) A disposition of property to one person for a valuable consideration paid, in whole or in part, by another is presumed fraudulent as against...
- New York Estates, Powers & Trusts - § 7-1.4 - Purposes for Which Trust May Be Created
An express trust may be created for any lawful purpose.
- New York Estates, Powers & Trusts - § 7-1.5 - When Trust Interest Inalienable; Exception
(a) The interest of the beneficiary of any trust may be assigned or otherwise transferred, except that: (1) The right of a beneficiary of an...
- New York Estates, Powers & Trusts - § 7-1.6 - Application of Principal to Income Beneficiary
(a) Notwithstanding any contrary provision of law, the court having jurisdiction of an express trust, heretofore created or declared, to receive the income from property...
- New York Estates, Powers & Trusts - § 7-1.7 - Interest Remaining in Creator of Trust
Every legal estate and interest not embraced in an express trust and not otherwise disposed of remains in the creator.
- New York Estates, Powers & Trusts - § 7-1.8 - Duration of Trust for Benefit of Creditors
(a) Where an estate in real property has heretofore vested or shall hereafter vest in an assignee or other trustee for the benefit of creditors,...
- New York Estates, Powers & Trusts - § 7-1.9 - Revocation of Trusts
(a) Upon the written consent, acknowledged or proved in the manner required by the laws of this state for the recording of a conveyance of...
- New York Estates, Powers & Trusts - § 7-1.10 - Provision by Non-domiciliary Creator as to Law to Govern Trust
(a) Whenever a person, not domiciled in this state, creates a trust which provides that it shall be governed by the laws of this state,...
- New York Estates, Powers & Trusts - § 7-1.11 - Application of Principal to Creator of Trust as Reimbursement for Taxes
(a) Notwithstanding any contrary provision of law, the trustee of an express trust, unless otherwise provided in the disposing instrument, may, from time to time,...
- New York Estates, Powers & Trusts - § 7-1.12 - Supplemental Needs Trusts Established for Persons With Severe and Chronic or Persistent Disabilities
(a) Definitions: When used in this section, unless otherwise expressly stated or unless the context otherwise requires: (1) "Developmental disability" means developmental disability as defined...
- New York Estates, Powers & Trusts - § 7-1.13 - Division of Trusts and Establishment of Separate Trusts
(a) Notwithstanding any contrary provision of law, unless expressly prohibited by the terms of the disposing instrument: (1) the trustee of an express trust (which...
- New York Estates, Powers & Trusts - § 7-1.14 - Who May Make a Lifetime Trust
Any person, as defined in 1-2.12, may by lifetime trust dispose of real and personal property. A natural person who creates a lifetime trust shall...
- New York Estates, Powers & Trusts - § 7-1.15 - What Property May Be Disposed of by Lifetime Trust
Every estate in property may be disposed of by lifetime trust.
- New York Estates, Powers & Trusts - § 7-1.16 - Revocation of Lifetime Trust by Will
A lifetime trust shall be irrevocable unless it expressly provides that it is revocable. In addition to the method set forth in 7-1.17, a revocable...
- New York Estates, Powers & Trusts - § 7-1.17 - Execution, Amendment and Revocation of Lifetime Trusts
(a) Every lifetime trust shall be in writing and shall be executed and acknowledged by the person establishing such trust and, unless such person is...
- New York Estates, Powers & Trusts - § 7-1.18 - Funding of Lifetime Trust
A lifetime trust shall be valid as to any assets therein to the extent the assets have been transferred to the trust. For purposes of...
- New York Estates, Powers & Trusts - § 7-1.19 - Application for Termination of Uneconomical Trust
(a) Notwithstanding sections 7-1.5 and 7-2.4 of this article or any other contrary provision of law: (1) Any trustee or beneficiary of a lifetime or...
|
