EPTL 7-1.18 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 7-1.17 Execution, amendment and revocation of lifetime trusts up PART 1 Rules Governing Trusts next SECTION 7-1.19 Application for termination of uneconomical trust Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 7-1.18 Funding of lifetime trust Estates, Powers & Trusts (EPT) CHAPTER 17-B, ARTICLE 7, PART 1 § 7-1.18 Funding of lifetime trust A lifetime trust shall be valid as to any assets therein to the extent the assets have been transferred to the trust. For purposes of this section, (a) transfer is not accomplished by recital of assignment, holding or receipt in the trust instrument, and (b) in the case of a trust of which the creator is the sole trustee, transfer shall mean in the case of assets capable of registration such as real estate, stocks, bonds, bank and brokerage accounts and the like, the recording of the deed or the completion of registration of the asset in the name of the trust or trustee, and in the case of other assets a written assignment describing the asset with particularity.