2006 New York Code - Trusts
ARTICLE 7 TRUSTS PART 1. RULES GOVERNING TRUSTS Section 7-1.1 When trust interests not to merge. 7-1.2 Trustee of passive trust not to take. 7-1.3 Purchase-money resulting trust abolished. 7-1.4 Purposes for which trust may be created. 7-1.5 When trust interest inalienable; exception. 7-1.6 Application of principal to income beneficiary. 7-1.7 Interest remaining in creator of trust. 7-1.8 Duration of trust for benefit of creditors. 7-1.9 Revocation of trusts. 7-1.10 Provision by non-domiciliary creator as to law to govern trust. 7-1.11 Application of principal to creator of trust as reimbursement for taxes. 7-1.12 Supplemental needs trusts established for persons with severe and chronic or persistent disabilities. 7-1.13 Division of trusts and establishment of separate trusts. 7-1.14 Who may make a lifetime trust. 7-1.15 What property may be disposed of by lifetime trust. 7-1.16 Revocation of lifetime trust by will. 7-1.17 Execution, amendment and revocation of lifetime trusts. 7-1.18 Funding of lifetime trust. 7-1.19 Application for termination of uneconomical trust. PART 2. RULES GOVERNING TRUSTEES Section 7-2.1 Extent of trustee's estate. 7-2.2 When estate of trustee ceases. 7-2.3 Trust estate not to descend on death of trustee; appointment, duties and rights of successor trustee. 7-2.4 Act of trustee in contravention of trust. 7-2.5 Suspension of powers of trustee in war service. 7-2.6 Resignation, suspension or removal of trustee. 7-2.7 Accounting by trustee in supreme court. 7-2.8 Commissions of trustee to sell real property for benefit of creditors. PART 3. RIGHTS OF PURCHASERS, CREDITORS AND OTHER PERSONS Section 7-3.1 Disposition in trust for creator void as against creditors. 7-3.2 Bona fide purchasers and creditors protected. 7-3.3 Person paying money to the trustee protected. 7-3.4 Excess income from trust property subject to creditors' claims. 7-3.5 Rights of creditors to obtain information concerning beneficiaries. PART 5. BANK ACCOUNTS IN TRUST FORM Section 7-5.1 Definitions. 7-5.2 Terms of a trust account. 7-5.3 Payment to beneficiary. 7-5.4 Effect of payment. 7-5.5 Rights not affected. 7-5.6 Joint depositors. 7-5.7 Multiple beneficiaries. 7-5.8 Application. PART 6. UNIFORM TRANSFERS TO MINORS ACT. Section 7-6.1 Definitions. 7-6.2 Scope and jurisdiction. 7-6.3 Nomination of custodian. 7-6.4 Transfer by gift or exercise of power of appointment. 7-6.5 Transfer authorized by will or trust. 7-6.6 Other transfer by fiduciary. 7-6.7 Transfer by obligor. 7-6.8 Receipt for custodial property. 7-6.9 Manner of creating custodial property and effecting transfer; designation of initial custodian; control. 7-6.10 Single custodianship. 7-6.11 Validity and effect of transfer. 7-6.12 Care of custodial property. 7-6.13 Powers of custodian. 7-6.14 Use of custodial property. 7-6.15 Custodian's expenses, compensation and bond. 7-6.16 Exemption of third person from liability. 7-6.17 Liability to third persons. 7-6.18 Renunciation, resignation, death or removal of custodian; designation of successor custodian. 7-6.19 Accounting by and determination of liability of custodian. 7-6.20 Termination of custodianship. 7-6.21 Age eighteen election. 7-6.22 Effect on existing custodianships. 7-6.23 Applicability. 7-6.24 Uniformity of application and construction. 7-6.25 Short title. 7-6.26 Severability. PART 7. CHILD PERFORMER TRUST ACCOUNT Section 7-7.1 Child performer trust account PART 8. HONORARY TRUSTS FOR PETS Section 7-8.1 Honorary trusts for pets
Disclaimer: These codes may not be the most recent version. New York may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.