1. The Laws of New York
  2. Consolidated Laws
  3. Estates, Powers & Trusts
  4. Article 1: General Provisions
  5. Part 2: Definitions


Section 1-2.20 Lifetime trust

Estates, Powers & Trusts (EPT)

§ 1-2.20 Lifetime trust

  The term "lifetime trust" shall mean an express trust and all amendments thereto created other than by will and shall not include; a trust for the benefit of creditors, a resulting or constructive trust, a business trust where certificates of beneficial interest are issued to the beneficiary, an investment trust, voting trust, a security instrument such as a deed of trust and a mortgage, a trust created by the judgment or decree of a court, a liquidation or reorganization trust, a trust for the sole purpose of paying dividends, interest, interest coupons, salaries, wages, pensions or profits, instruments wherein persons are mere nominees for others, or a trust created in deposits in any banking institution or savings and loan institution.