Oklahoma § 60-1604.2 Requirements for creation.

Oklahoma Statutes

§ 60-1604.2 — Requirements for creation.

Oklahoma § 60-1604.2

Title 60Property

This text of Oklahoma § 60-1604.2 (Requirements for creation.) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 60, § 60-1604.2 (2026).

Text

A.A trust is created only if: 1. The settlor has capacity to create a trust; 2. The settlor indicates an intention to create the trust; 3. The trust has a definite beneficiary or is: a. a charitable trust, or b. a trust for a noncharitable purpose, as provided in Section 27 of this act; 4. The trustee has duties to perform; and 5. The same person is not the sole trustee and sole beneficiary.

B.A beneficiary is definite if the beneficiary can be ascertained now or in the future.

C.A power in a trustee to select a beneficiary from an indefinite class is valid. If the power is not exercised within a reasonable time, the power fails and the property subject to the power passes to the persons who would have taken the property had the power not been conferred.

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A. A trust is created only if: 1. The settlor has capacity to create a trust; 2. The settlor indicates an intention to create the trust; 3. The trust has a definite beneficiary or is: a. a charitable trust, or b. a trust for a noncharitable purpose, as provided in Section 27 of this act; 4. The trustee has duties to perform; and 5. The same person is not the sole trustee and sole beneficiary. B. A beneficiary is definite if the beneficiary can be ascertained now or in the future. C. A power in a trustee to select a beneficiary from an indefinite class is valid. If the power is not exercised within a reasonable time, the power fails and the property subject to the power passes to the persons who would have taken the property had the power not been conferred.