Legislation
SECTION 7-1.9
Revocation of trusts
Estates, Powers & Trusts (EPT) CHAPTER 17-B, ARTICLE 7, PART 1
§ 7-1.9 Revocation of trusts
(a) Upon the written consent, acknowledged or proved in the manner
required by the laws of this state for the recording of a conveyance of
real property, of all the persons beneficially interested in a trust of
property, heretofore or hereafter created, the creater of such trust may
revoke or amend the whole or any part thereof by an instrument in
writing acknowledged or proved in like manner, and thereupon the estate
of the trustees ceases with respect to any part of such trust property,
the disposition of which has been revoked. If the conveyance or other
instrument creating a trust of property was recorded in the office of
the clerk or register of any county of this state, the instrument
revoking or amending such trust, together with the consents thereto,
shall be recorded in the same office of every county in which the
conveyance or other instrument creating such trust was recorded.
(b) For the purposes of this section, a disposition, contained in a
trust created on or after September first, nineteen hundred fifty-one,
in favor of a class of persons described only as the heirs, next of kin
or distributees (or by any term of like import) of the creator of the
trust does not create a beneficial interest in such persons.
(c) A testamentary or lifetime trust wholly benefitting one or more
charitable beneficiaries may be terminated as provided for by
subparagraph two of paragraph (c) of section 8-1.1 of this chapter.
(a) Upon the written consent, acknowledged or proved in the manner
required by the laws of this state for the recording of a conveyance of
real property, of all the persons beneficially interested in a trust of
property, heretofore or hereafter created, the creater of such trust may
revoke or amend the whole or any part thereof by an instrument in
writing acknowledged or proved in like manner, and thereupon the estate
of the trustees ceases with respect to any part of such trust property,
the disposition of which has been revoked. If the conveyance or other
instrument creating a trust of property was recorded in the office of
the clerk or register of any county of this state, the instrument
revoking or amending such trust, together with the consents thereto,
shall be recorded in the same office of every county in which the
conveyance or other instrument creating such trust was recorded.
(b) For the purposes of this section, a disposition, contained in a
trust created on or after September first, nineteen hundred fifty-one,
in favor of a class of persons described only as the heirs, next of kin
or distributees (or by any term of like import) of the creator of the
trust does not create a beneficial interest in such persons.
(c) A testamentary or lifetime trust wholly benefitting one or more
charitable beneficiaries may be terminated as provided for by
subparagraph two of paragraph (c) of section 8-1.1 of this chapter.