Michigan § 554.93 Interests in personal property held in trust; application of rules.

Michigan Statutes

§ 554.93 — Interests in personal property held in trust; application of rules.

Michigan § 554.93

Ch. 554REAL AND PERSONAL PROPERTY

Act 148 of 2008PERSONAL PROPERTY TRUST PERPETUITIES ACT (554.91-554.94)

This text of Michigan § 554.93 (Interests in personal property held in trust; application of rules.) is published on Counsel Stack Legal Research, covering Michigan primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mich. Comp. Laws § 554.93 (2026).

Text

PERSONAL PROPERTY TRUST PERPETUITIES ACT (EXCERPT) Act 148 of 2008 554.93 Interests in personal property held in trust; application of rules. Sec. 3.

(1)Except as provided in section 2, an interest in, or power of appointment over, personal property held in trust is not invalidated by a rule against any of the following:

(a)Perpetuities.

(b)Suspension of absolute ownership.

(c)Suspension of the power of alienation.

(d)Accumulations of income.

(2)Except as provided in section 2, all of the following may be indefinitely suspended, postponed, or allowed to go on with respect to personal property held in trust:

(a)The vesting of a future interest.

(b)The satisfaction of a condition precedent to the exercise of a general power of appointment.

(c)The exercise of a nongeneral or testamen

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PERSONAL PROPERTY TRUST PERPETUITIES ACT (EXCERPT) Act 148 of 2008 554.93 Interests in personal property held in trust; application of rules. Sec. 3. (1) Except as provided in section 2, an interest in, or power of appointment over, personal property held in trust is not invalidated by a rule against any of the following: (a) Perpetuities. (b) Suspension of absolute ownership. (c) Suspension of the power of alienation. (d) Accumulations of income. (2) Except as provided in section 2, all of the following may be indefinitely suspended, postponed, or allowed to go on with respect to personal property held in trust: (a) The vesting of a future interest. (b) The satisfaction of a condition precedent to the exercise of a general power of appointment. (c) The exercise of a nongeneral or testamentary power of appointment. (d) Absolute ownership. (e) The power of alienation. (f) Accumulations of income.