§ 18-B §401 — Methods of creating trust

Maine § 18-B §401

• Jurisdiction: Maine
• Title 18-B: TRUSTS
• Part 1: MAINE UNIFORM TRUST CODE
• Ch. 4: CREATION, VALIDITY, MODIFICATION AND TERMINATION OF TRUST

Text

A trust may be created by:
1.
Transfer of property.
Transfer of property to another person as trustee during the settlor's lifetime or by will or other disposition taking effect upon the settlor's death;
2.
Declaration.
Declaration by the owner of property that the owner holds identifiable property as trustee; or
3.
Exercise of power.
Exercise of a power of appointment in favor of a trustee.

Legislative History

PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).