Section 555.25 – Express Trust; Trustee Resignation.
555.25 Express trust; trustee resignation. Sec. 25. Upon the petition of any trustee of an express trust, the court of chancery may accept his resignation, and discharge him from the trust, under such regulations as shall be established by the court for that purpose, and upon such terms as the rights and interests of the […]
Section 555.26 – Express Trust; Trustee Removal.
555.26 Express trust; trustee removal. Sec. 26. Upon the petition or bill of any person interested in the execution of an express trust, and under such regulations as shall be established by the court for that purpose, the court of chancery may remove any trustee who shall have violated or threatened to violate his trust, […]
Section 555.17 – Express Trust; Disposal of Land in Event of Failure or Termination of Trust.
555.17 Express trust; disposal of land in event of failure or termination of trust. Sec. 17. The preceding section shall not prevent any person creating a trust, from declaring to whom the lands to which the trust relates shall belong, in the event of the failure or termination of the trust, nor shall it prevent […]
Section 555.18 – Express Trust; Undisposed Estate or Interest.
555.18 Express trust; undisposed estate or interest. Sec. 18. When an express trust is created, every estate and interest not embraced in the trust, and not otherwise disposed of, shall remain in, or revert to the person creating the trust, or his heirs as a legal estate. History: R.S. 1846, Ch. 63 ;– CL 1857, […]
Section 555.19 – Express Trust; Assignability of Interest of Beneficiary.
555.19 Express trust; assignability of interest of beneficiary. Sec. 19. No person beneficially interested in a trust for the receipt of the rents and profits of lands, can assign or in any manner dispose of such interest; but the rights and interest of every person for whose benefit a trust for the payment of a […]
Section 555.20 – Express Trust; Omission From Conveyance; Validity as to Subsequent Creditor and Bona Fide Purchaser From Trustee.
555.20 Express trust; omission from conveyance; validity as to subsequent creditor and bona fide purchaser from trustee. Sec. 20. When an express trust is created, but is not contained or declared in the conveyance to the trustees, such conveyance shall be deemed absolute as against the subsequent creditors of the trustees, not having notice of […]
Section 555.21 – Express Trust; Mention in Instrument; Invalidity of Certain Acts of Trustee.
555.21 Express trust; mention in instrument; invalidity of certain acts of trustee. Sec. 21. When the trust shall be expressed in the instrument creating the estate, every sale, conveyance, or other acts of the trustees, in contravention of the trust, shall be absolutely void. History: R.S. 1846, Ch. 63 ;– CL 1857, 2651 ;– CL […]
Section 555.22 – Authorized Payment to Trustee; Protection of Payor.
555.22 Authorized payment to trustee; protection of payor. Sec. 22. No person who shall actually and in good faith make any payment to a trustee, which the trustee as such is authorized to receive, shall be responsible for the application thereof according to the trust; nor shall any right or title derived by such person […]
Section 555.23 – Express Trust; Termination of Estate of Trustee.
555.23 Express trust; termination of estate of trustee. Sec. 23. When the purposes for which an express trust shall have been created, shall have ceased, the estate of the trustee shall also cease. History: R.S. 1846, Ch. 63 ;– CL 1857, 2653 ;– CL 1871, 4136 ;– How. 5585 ;– CL 1897, 8851 ;– CL […]
Section 555.8 – Payment of Consideration for Conveyance to Another; Presumption as Fraudulent; Resulting Trust for Creditors of Payee.
555.8 Payment of consideration for conveyance to another; presumption as fraudulent; resulting trust for creditors of payee. Sec. 8. Every such conveyance shall be presumed fraudulent, as against the creditors of the person paying the consideration; and when a fraudulent intent is not disproved, a trust shall result in favor of such creditors, to the […]