There is a newer version of the New York Consolidated Laws
2022
2021
2020
2019
2018
Other previous versions
View our newest version here

2012 New York Consolidated Laws
EPT - Estates, Powers & Trusts
Article 7 - TRUSTS
Part 1 - (7-1.1 - 7-1.19) RULES GOVERNING TRUSTS
7-1.2 - Trustee of passive trust not to take


NY Est Pow & Trusts L § 7-1.2 (2012) What's This?
 
  § 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 not
  to another in trust for such person, and if made to any person in  trust
  for  another,  no  estate, legal or equitable, vests in the trustee. But
  neither this  section  nor  7-1.1  shall  apply  to  trusts  arising  or
  resulting by implicaiton of law.

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.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.