A Treatise on Express Trusts and Powers, Under the New York Revised Statutes and the Real Property Law of 1896: With an Appendix Containing a Table Showing the Sources of the Sections Cited, and a Table of Comparative Texts of the Revised Statutes and the Real Property Law |
Contents
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Other editions - View all
A Treatise on Express Trusts and Powers: Under the New York Revised Statutes ... Stewart Chaplin No preview available - 2015 |
A Treatise on Express Trusts and Powers: Under the New York Revised Statutes ... Stewart Chaplin No preview available - 2017 |
Common terms and phrases
absolute accumulation action aff'd ante appointment authority Bank Barb beneficial power beneficiary benefit charge cited Code C. P. convey conveyance corpus court of equity created creditors death debts declaration decree deed devise direction disposition effect entitled equity erty execution executor exercise express trust fact future estate gift given grant grantor held income intent interest invalid investment land lease legal title liable Matter Misc mortgage owner party payment personal property power in trust power of sale power to sell principle proceeds provisions purpose question real estate Real Prop Real Property Law receive and apply Redf remainder remainderman rents and profits Revised Statutes Sandf Smith Supreme Court surrogate Surrogate's Court suspension tenant term testamentary trustee testator's thereof tion transfer trus trust estate trust fund trust instrument trust to receive trustee's valid vested void Wend
Popular passages
Page 273 - The absolute power of alienation shall not be suspended by any limitation or condition whatever, for a longer period than during the continuance of not more than two lives in being at the creation of the estate, except in the single case mentioned in the next section.
Page 281 - ... a contingent remainder in fee may be created on a prior remainder in fee, to take effect in the event that the persons to whom the first remainder is limited, die under the age of twenty-one years, or on any other contingency by which the estate of such persons may be determined before they attain full age.
Page 441 - Where an express trust relating to real property is created for any purpose not specified in the preceding sections of this article, no estate shall vest in the trustees ; but the trust, if directing or authorizing the performance of any act which may be lawfully performed under a power, shall be valid as a power in trust, subject to the provisions of this chapter.
Page 273 - Such power of alienation is suspended, when there are no persons in being, by whom an absolute fee in possession can be conveyed.
Page 662 - Where a grant for a valuable consideration shall be made' to one person, and the consideration therefor shall be paid by another, no use or trust shall result in favor of the person by whom such payment shall be made; but the title shall vest in the person named as the alienee in such conveyance, subject only to the provisions of the next section.
Page 32 - June [1677] all declarations or creations of trusts or confidences of any lands, tenements, or hereditaments, shall be manifested and proved by some writing signed by the party who is by law enabled to declare such trust, or by his last will in writing, or else they shall be utterly void and of none effect.
Page 581 - Where a trust is created to receive the rents and profits of lands, and no valid direction for accumulation is given, the surplus of such rents and profits, beyond the sum that may be necessary for the education and support of the person for whose benefit the trust is created, shall be liable, in equity, to the claims of the creditors of such person...
Page 660 - ... 1. If such accumulation be directed to commence on the creation of the estate out of which the rents and profits are to arise, it must be made for the benefit of one or more minors then in being, and terminate at or before the expiration of their minority.
Page 256 - No gift, grant, or devise to religious, educational, charitable or benevolent uses, which shall in other respects be valid under the Laws of this state, shall be deemed invalid by reason of the indefiniteness or uncertainty of the persons designated as the beneficiaries thereunder in the instrument creating the same.
Page 205 - Every action must be prosecuted in the name of the real party in interest, except that an executor or administrator, a trustee of an express trust, or a person expressly authorized by statute, may sue, without joining with him the person for whose benefit the action is prosecuted. A person, with whom or in whose name, a contract is made for the benefit of another, is a trustee of an express trust, within the meaning of this section.