Delaware § 3334 Contributions to revocable trusts [For application of this section, see 79 Del. Laws, c. 172, § 6]

Delaware Statutes

§ 3334 — Contributions to revocable trusts [For application of this section, see 79 Del. Laws, c. 172, § 6]

Delaware·Title 12·Part Fiduciary Relations·Ch. 33 ADMINISTRATIVE PROVISIONS

Where spouses make a contribution of property to 1 or more trusts, each of which is revocable by either or both of them, and, immediately before such contribution, such property or any part thereof or any accumulation thereto was, pursuant to applicable law, owned by them as tenants by the entireties, in any action concerning whether a creditor of either or both spouses may recover the debt from the trust, the sole remedy available to the creditor with respect to such trust property shall be an order directing the trustee to transfer the property to both spouses as tenants by the entireties.

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Where spouses make a contribution of property to 1 or more trusts, each of which is revocable by either or both of them, and, immediately before such contribution, such property or any part thereof or any accumulation thereto was, pursuant to applicable law, owned by them as tenants by the entireties, in any action concerning whether a creditor of either or both spouses may recover the debt from the trust, the sole remedy available to the creditor with respect to such trust property shall be an order directing the trustee to transfer the property to both spouses as tenants by the entireties.

Delaware § 3334 (Contributions to revocable trusts [For application of this section, see 79 Del. Laws, c. 172, § 6]) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.