§ 35-4-290 — Reservation of Power by Grantor

Alabama § 35-4-290

• Jurisdiction: Alabama
• Title 35: Property
• Ch. 4: Conveyances and Creation of Estates
• Art. 12: Powers

Text

(a) The grantor, in any conveyance, may reserve to himself any power beneficial, or in trust, which he may lawfully grant to another.
(b) When the grantor in any conveyance reserves to himself, for his own benefit, an absolute power of revocation, such grantor must be taken as the absolute owner of the estate conveyed, as to the rights of creditors and purchasers.

Legislative History

(Code 1852, §§1324, 3529; Code 1867, §§1594, 1599; Code 1876, §§2203, 2208; Code 1886, §§1849, 1854; Code 1896, §§1045, 1050; Code 1907, §§3422, 3427; Code 1923, §§6927, 6932; Code 1940, T. 47, §§75, 80.)