Indiana § 30-4-2-14 Assignment of beneficiary's interest

Indiana Statutes

§ 30-4-2-14 — Assignment of beneficiary's interest

Indiana·Art. 4 TRUST CODE·Ch. 2 Rules Governing the Creation of Trusts

(Assignment of Beneficiary's Interest)

(a)If the terms of the trust give the trustee the power to sell the trust property upon direction by the beneficiary or other person or to sell it after a stipulated period of time in the absence of a direction as provided in 30-4-2-13, the beneficiary may treat his interest as personal property and may assign it to any person notwithstanding the provisions of 30-4-2-7(c).

(b)The trustee will be bound by an assignment made under subsection (a) of this section only after he receives written notice of it. Formerly: Acts 1971, P.L.416, SEC.3.

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(Assignment of Beneficiary's Interest)
(a) If the terms of the trust give the trustee the power to sell the trust
property upon direction by the beneficiary or other person or to sell it
after a stipulated period of time in the absence of a direction as
provided in 30-4-2-13, the beneficiary may treat his interest as personal
property and may assign it to any person notwithstanding the
provisions of 30-4-2-7(c).
(b) The trustee will be bound by an assignment made under
subsection (a) of this section only after he receives written notice of it.
Formerly: Acts 1971, P.L.416, SEC.3.

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