reglab/housing_qa huggingface dataset:
NY Est Pow & Trusts L § 7-1.4 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 1 - Rules Governing Trusts 7-1.4 - Purposes for Which Trust May Be Created

§ 7-1.4 Purposes for which trust may be createdAn express trust may be created for any lawful purpose.
NY Est Pow & Trusts L § 7-1.6 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 1 - Rules Governing Trusts 7-1.6 - Application of Principal to Income Beneficiary

§ 7-1.6 Application of principal to income beneficiary  (a)  Notwithstanding  any  contrary provision of law, the court having jurisdiction of an express trust, heretofore  created  or  declared,  to receive the income from property and apply it to the use of or pay it to any  person,  unless otherwise provided in the disposing instrument, may in its discretion  make  an  allowance  from  principal  to  any  income beneficiary whose support or education is not sufficiently provided for, to  the  extent  that  such  beneficiary is indefeasibly entitled to the principal of the trust or any  part  thereof  or,  in  case  the  income beneficiary  is  not  entitled to the principal of the trust or any part thereof, to the extent that all persons beneficially interested  in  the trust  are  adult and competent and consent thereto in writing; provided that the court, after a hearing on  notice  to  all  those  beneficially interested  in  the  trust  in  such  manner as the court may direct, is satisfied that the original purpose of the creator of the  trust  cannot be  carried out and that such allowance effectuates the intention of the creator.  (b) Notwithstanding any contrary provision of law,  the  court  having jurisdiction  of  an  express  trust,  hereafter created or declared, to receive income from property and apply it to the use of or pay it to any person, unless otherwise provided in the disposing  instrument,  may  in its   discretion   make  an  allowance  from  principal  to  any  income beneficiary whose support or education is not sufficiently provided for, whether or not such person is entitled to the principal of the trust  or any  part thereof; provided that the court, after a hearing on notice to all those beneficially interested in the trust in  such  manner  as  the court  may direct, is satisfied that the original purpose of the creator of the trust cannot be carried out and that such  allowance  effectuates the intention of the creator.  (c)  In  the  event that an income beneficiary to whom an allowance is made, as provided in this section, is or becomes entitled to a share  of the  principal  of  the trust, such allowance, without interest thereon, shall be a charge upon such share.  (d) If the application or the possibility of the application  of  this section  to  any  trust would reduce or eliminate a charitable deduction otherwise available to any person or entity under the income  tax,  gift tax  or  estate  tax  provisions  of  the  internal  revenue  code,  the provisions of this section shall not apply to such trust.  (e) A supplemental needs trust which conforms  to  the  provisions  of 7-1.12  of  this  article  shall  be  construed  in  accordance with the provisions of that section.
NY Est Pow & Trusts L § 7-1.7 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 1 - Rules Governing Trusts 7-1.7 - Interest Remaining in Creator of Trust

§ 7-1.7 Interest remaining in creator of trustEvery  legal  estate and interest not embraced in an express trust and   not otherwise disposed of remains in the creator.
NY Est Pow & Trusts L § 7-1.8 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 1 - Rules Governing Trusts 7-1.8 - Duration of Trust for Benefit of Creditors

§ 7-1.8 Duration of trust for benefit of creditors  (a)  Where  an  estate in real property has heretofore vested or shall hereafter vest in an assignee  or  other  trustee  for  the  benefit  of creditors,  it  shall cease at the expiration of ten years from the time the trust was created, except where a different limitation is  contained in  the instrument creating the trust or is otherwise prescribed by law. Such estate shall thereupon revert to the assignor.  (b) This section does not apply to a trust of personal property or  to a  trust  of  real  property created in connection with the salvaging of mortgage participation certificates. Nor does this  section  affect  any rights  to  the proceeds of a sale of real property made by the assignee or other trustee for the benefit of creditors.
NY Est Pow & Trusts L § 7-1.9 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 1 - Rules Governing Trusts 7-1.9 - Revocation of Trusts

§ 7-1.9 Revocation of trusts  (a)  Upon  the  written  consent, acknowledged or proved in the manner required by the laws of this state for the recording of a conveyance  of real  property, of all the persons beneficially interested in a trust of property, heretofore or hereafter created, the creater of such trust may revoke or amend the whole or  any  part  thereof  by  an  instrument  in writing  acknowledged or proved in like manner, and thereupon the estate of the trustees ceases with respect to any part of such trust  property, the  disposition  of  which has been revoked. If the conveyance or other instrument creating a trust of property was recorded in  the  office  of the  clerk  or  register  of  any  county  of this state, the instrument revoking or amending such trust, together  with  the  consents  thereto, shall  be  recorded  in  the  same  office  of every county in which the conveyance or other instrument creating such trust was recorded.  (b) For the purposes of this section, a disposition,  contained  in  a trust  created  on or after September first, nineteen hundred fifty-one, in favor of a class of persons described only as the heirs, next of  kin or  distributees  (or  by any term of like import) of the creator of the trust does not create a beneficial interest in such persons.  (c) A testamentary or lifetime trust wholly benefitting  one  or  more charitable   beneficiaries   may   be  terminated  as  provided  for  by subparagraph two of paragraph (c) of section 8-1.1 of this chapter.
NY Est Pow & Trusts L § 7-1.10 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 1 - Rules Governing Trusts 7-1.10 - Provision by Non-Domiciliary Creator as to Law to Govern Trust

§ 7-1.10 Provision by non-domiciliary creator as to law to govern trust  (a)  Whenever  a  person, not domiciled in this state, creates a trust which provides that it shall be governed by the laws of this state, such provision shall be given effect in determining the validity, effect  and interpretation of the disposition in such trust of:  (1) Any trust property situated in this state at the time the trust is created.  (2)  Personal property, wherever situated, if the trustee of the trust is a person residing, incorporated or authorized to do business in  this state or a national bank having an office in this state.
NY Est Pow & Trusts L § 7-1.11 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 1 - Rules Governing Trusts 7-1.11 - Application of Principal to Creator of Trust as Reimbursement for Taxes

§ 7-1.11 Application  of  principal to creator of trust as reimbursement            for taxes  (a) Notwithstanding any contrary provision of law, the trustee  of  an express  trust,  unless  otherwise provided in the disposing instrument, may, from time to time, pay from principal to the creator of such  trust an  amount  equal  to  any  income  taxes  on  any  portion of the trust principal with which he is charged.  (b) The provisions of this section do not apply to any trust by  which a  future  estate  is  indefeasibly  vested  in  the  United States or a political subdivision for exclusively  public  purposes;  a  corporation organized exclusively for religious, charitable, scientific, literary or educational  purposes,  including  the  encouragement  of  art  and  the prevention of cruelty to  children  or  animals,  no  part  of  the  net earnings  of  which  inures to the benefit of any private shareholder or individual, and no substantial  part  of  the  activities  of  which  is carrying on propaganda or otherwise attempting to influence legislation; a  trustee, or a fraternal society, order or association operating under the lodge system, provided the principal or income of such trust  is  to be  used  by  such  trustee  or  by  such  fraternal  society,  order or association exclusively for religious, charitable, scientific,  literary or educational purposes, or for the prevention of cruelty to children or animals, and no substantial part of the activities of such trustee or of such  fraternal  society, order or association is carrying on propaganda or otherwise attempting  to  influence  legislation;  or  any  veteran's organization  incorporated  by  Act of Congress, or of its department or local chapters or posts, no part of the net earnings of which inures  to the benefit of any private shareholder or individual.
NY Est Pow & Trusts L § 7-1.14 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 1 - Rules Governing Trusts 7-1.14 - Who May Make a Lifetime Trust

§ 7-1.14 Who may make a lifetime trustAny  person,  as  defined  in 1-2.12, may by lifetime trust dispose of   real and personal property.   A natural person who  creates  a  lifetime   trust shall be eighteen years of age or older.
NY Est Pow & Trusts L § 7-1.15 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 1 - Rules Governing Trusts 7-1.15 - What Property May Be Disposed of by Lifetime Trust

§ 7-1.15 What property may be disposed of by lifetime trustEvery estate in property may be disposed of by lifetime trust.
NY Est Pow & Trusts L § 7-1.16 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 1 - Rules Governing Trusts 7-1.16 - Revocation of Lifetime Trust by Will

§ 7-1.16 Revocation of lifetime trust by willA  lifetime  trust  shall  be irrevocable unless it expressly provides   that it is revocable. In addition to the method set forth in  7-1.17,  a   revocable  lifetime  trust  can  be  revoked  or  amended  by an express   direction in the  creator's  will  which  specifically  refers  to  such   lifetime trust or a particular provision thereof.
NY Est Pow & Trusts L § 7-1.17 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 1 - Rules Governing Trusts 7-1.17 - Execution, Amendment and Revocation of Lifetime Trusts

§ 7-1.17 Execution, amendment and revocation of lifetime trusts  (a) Every lifetime trust shall be in writing and shall be executed and acknowledged  by  the  person  establishing  such trust and, unless such person is the sole trustee, by at least  one  trustee  thereof,  in  the manner  required  by  the  laws  of  this  state  for the recording of a conveyance of real  property  or,  in  lieu  thereof,  executed  in  the presence  of two witnesses who shall affix their signatures to the trust instrument.  (b) Any amendment or revocation authorized by the trust  shall  be  in writing  and  executed  by  the person authorized to amend or revoke the trust, and except as otherwise provided  in  the  governing  instrument, shall  be  acknowledged or witnessed in the manner required by paragraph (a) of this section, and shall take  effect  as  of  the  date  of  such execution.  Written  notice  of  such  amendment  or revocation shall be delivered to at least one other trustee within a reasonable time if  the person  executing  such amendment or revocation is not the sole trustee, but failure to give such notice shall not affect  the  validity  of  the amendment  or  revocation or the date upon which same shall take effect. No trustee shall be liable for any act reasonably taken in  reliance  on an  existing  trust  instrument  prior  to  actual  receipt of notice of amendment or revocation thereof.
NY Est Pow & Trusts L § 7-1.18 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 1 - Rules Governing Trusts 7-1.18 - Funding of Lifetime Trust

§ 7-1.18 Funding of lifetime trustA lifetime trust shall be valid as to any assets therein to the extent   the  assets  have  been  transferred  to the trust. For purposes of this   section, (a) transfer is not  accomplished  by  recital  of  assignment,   holding  or  receipt  in  the trust instrument, and (b) in the case of a   trust of which the creator is the sole trustee, transfer shall  mean  in   the  case of assets capable of registration such as real estate, stocks,   bonds, bank and brokerage accounts and the like, the  recording  of  the   deed  or  the completion of registration of the asset in the name of the   trust or trustee, and in the case of other assets a  written  assignment   describing the asset with particularity.
NY Est Pow & Trusts L § 7-1.19 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 1 - Rules Governing Trusts 7-1.19 - Application for Termination of Uneconomical Trust.

§ 7-1.19 Application for termination of uneconomical trust  (a)  Notwithstanding  sections  7-1.5 and 7-2.4 of this article or any other contrary provision of law:  (1) Any trustee or beneficiary of a lifetime or  testamentary  express trust  (other than a wholly charitable trust) may, by application to the surrogate's court having jurisdiction over the trust, seek a termination of  such  trust  when  the  expense  of  administering  the   trust   is uneconomical.  (2)  If,  upon  such application, the court finds that continuation of the trust is economically impracticable, that the express terms  of  the disposing  instrument  do  not  prohibit its early termination, and that such termination would not defeat the specified purpose of the trust and would be in the best interests of the beneficiaries, the court may  make an  order or decree terminating the trust and directing the distribution of the trust assets to and among those beneficiaries who at the time are entitled (or entitled in the discretion of the trustee)  to  the  income and/or  principal  of  the  trust  and  those beneficiaries who would be entitled (or entitled in the discretion of the trustee)  to  the  income and/or principal of the trust if it were to terminate immediately before such order or decree. The distribution of the trust assets shall be made in  such  manner, proportions and shares as in the judgment of the court will effectuate the intention of the creator.  (b) Notice of the application shall be given to such  persons  and  at such  time  and  in  such  manner  as  the court, in its discretion, may direct.  (c) If the application or the possibility of the application  of  this section  to  any  trust would reduce or eliminate a charitable deduction otherwise available to any person under the income tax, gift tax, estate tax or generation-skipping transfer tax provisions of the United  States Internal  Revenue Code, or the laws of any state of the United States or of the District of Columbia, this section shall not apply to such trust.  (d) This section shall not apply to a supplemental needs  trust  which conforms to the provisions of section 7-1.12 of this part.
NY Est Pow & Trusts L § 7-2.1 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 2 - Rules Governing Trustees 7-2.1 - Extent of Trustee's Estate

§ 7-2.1 Extent of trustee's estate  (a)  Except  as  otherwise  provided in this article, an express trust vests in the trustee the legal estate, subject only to the execution  of the  trust,  and  the  beneficiary does not take any legal estate in the property but may enforce the trust.  (b) This section  does  not  prevent  the  creator  of  a  trust  from providing  to whom the property shall belong in the event of the failure or termination of the trust or from disposing of the property subject to the execution of the trust. Such a transferee shall have a legal  estate in  the  property  as  against  all persons except the trustee and those lawfully claiming under him.  (c) A trust as described in sections 9-1.5, 9-1.6  and  9-1.7  of  the estates, powers and trusts law, including a business trust as defined in subdivision  two  of  section  two  of the general associations law, may acquire property in the name of the trust as such name is designated  in the  instrument  creating  said  trust. Any property, so acquired can be conveyed, encumbered or otherwise disposed of only in  such  name  by  a conveyance, encumbrance or other instrument executed by:  (1)  the  person or persons authorized by the instrument creating said trust; or  (2) the person or persons authorized by a resolution duly  adopted  by the trustees; or  (3)  a  majority  of  the trustees unless the instrument creating said trust otherwise provides.   Any instrument of conveyance,  encumbrance  or  disposition  delivered prior  to  the  effective date of this section to or by a trust to which this section applies, in its trust name  is  hereby  validated  provided that  no  action  or  proceeding  to  cancel  or  disaffirm  it shall be instituted within one year from the effective date hereof,  but  nothing herein contained shall affect any such pending action or proceeding.
NY Est Pow & Trusts L § 7-2.2 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 2 - Rules Governing Trustees 7-2.2 - When Estate of Trustee Ceases

§ 7-2.2 When estate of trustee ceasesWhen  the  purpose  for  which an express trust is created ceases, the   estate of the trustee also ceases.
NY Est Pow & Trusts L § 7-2.3 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 2 - Rules Governing Trustees 7-2.3 - Trust Estate Not to Descend on Death of Trustee; Appointment, Duties and Rights of Successor Trustee

§ 7-2.3 Trust  estate  not  to descend on death of trustee; appointment,           duties and rights of successor trustee  (a) On the death of the sole surviving trustee of  an  express  trust, the trust estate does not vest in his personal representative or pass to his  distributees  or  devisees,  but,  in  the  absence  of  a contrary direction by the creator, if the trust has not been executed, the  trust estate  vests in the supreme court or the surrogate's court, as the case may be, and the trust shall be executed by a  person  appointed  by  the court.  (b)  Upon  such  notice to the beneficiaries of the trust as the court may direct of an application for the appointment of a successor trustee, unless the creator has directed  otherwise,  the  court  may  appoint  a successor trustee, even though the trust has terminated, whenever in the opinion  of  the  court  such appointment is necessary for the effective administration and distribution of the  trust  estate,  subject  to  the following:  (1)  A  successor  trustee  shall  give security in such amount as the court may direct.  (2) A successor trustee shall be subject to the  same  duties,  as  to accounting  and  trust administration, as are imposed by law on trustees and, in addition to the reasonable expenses incurred in  the  course  of trust  administration,  shall  be entitled to such commissions as may be fixed by any court having jurisdiction to pass upon such trustee's final account, which shall in no case exceed the commissions allowable by  law to trustees.
NY Est Pow & Trusts L § 7-2.4 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 2 - Rules Governing Trustees 7-2.4 - Act of Trustee in Contravention of Trust

§ 7-2.4 Act of trustee in contravention of trustIf the trust is expressed in the instrument creating the estate of the   trustee,  every  sale,  conveyance  or  other  act  of  the  trustee  in   contravention of the trust, except as authorized by this article and  by   any other provision of law, is void.
NY Est Pow & Trusts L § 7-2.6 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 2 - Rules Governing Trustees 7-2.6 - Resignation, Suspension or Removal of Trustee

§ 7-2.6 Resignation, suspension or removal of trustee  (a)  Subject  to the relevant provisions of the civil practice law and rules, the supreme court has power:  (1) On the application of a trustee, to accept his resignation and  to discharge him on such terms as it deems proper.  (2)  On  the application of any person interested in the trust estate, to suspend or remove a trustee who has violated or threatens to  violate his  trust,  who  is  insolvent  or  whose  insolvency  is  imminent  or apprehended or who for any reason is a person unsuitable to execute  the trust.  (3)  In  case of the resignation or removal of a trustee, to appoint a successor trustee and, if there is no acting trustee, to cause the trust to be executed by a receiver or other officer under its direction.  This section does not apply to a trust arising or resulting by implication of law, nor where other provision is  made  by  law  for  the  resignation, suspension  or  removal  of  a trustee or the appointment of a successor trustee.
NY Est Pow & Trusts L § 7-2.7 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 2 - Rules Governing Trustees 7-2.7 - Accounting by Trustee in Supreme Court

§ 7-2.7 Accounting by trustee in supreme court  (a)  Any  proceeding  for  an  accounting or other relief brought by a trustee or by a substituted or successor trustee  may  be  commenced  by such  notice  to the beneficiaries of the trust as the supreme court may direct.  (b) In case of the resignation, suspension  or  removal,  pursuant  to this article, of any trustee of a trust which includes real property and mortgage  participation  certificates  held  by more than one person and secured by a mortgage on real property or any estate therein, payment of which certificates is not guaranteed by the trustee or by any  title  or mortgage guaranty or investment company, the court in its discretion may dispense with a formal accounting by such trustee; but the trustee shall file with the court a statement of the condition of the trust and of the security underlying such certificates as of the date of his resignation, suspension  or  removal  and shall assign, transfer or convey all of the assets of the trust to the successor trustee or to the receiver or other officer appointed by the court, as the case may be.
NY Est Pow & Trusts L § 7-2.8 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 2 - Rules Governing Trustees 7-2.8 - Commissions of Trustee to Sell Real Property for Benefit of Creditors

§ 7-2.8 Commissions  of  trustee  to  sell  real property for benefit ofcreditorsA trustee of a  trust  to  sell  real  property  for  the  benefit  of   creditors  is  entitled  to  the same commissions as an assignee for the   benefit of creditors.
NY Est Pow & Trusts L § 7-3.2 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 3 - Rights of Purchasers, Creditors and Other Persons 7-3.2 - Bona Fide Purchasers and Creditors Protected

§ 7-3.2 Bona fide purchasers and creditors protectedAn  express trust not declared in the disposition to the trustee or an   implied or resulting trust does not defeat the title of a purchaser from   the trustee for value and without notice of the trust, or the rights  of   a  creditor  who  extended  credit  to  the trustee in reliance upon his   apparent ownership of the trust property.
NY Est Pow & Trusts L § 7-3.3 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 3 - Rights of Purchasers, Creditors and Other Persons 7-3.3 - Person Paying Money to the Trustee Protected

§ 7-3.3 Person paying money to the trustee protectedA person who in good faith transfers money or property to a trustee is   not  responsible  for  the proper application of such money or property;   and any right or title derived by him from the trustee in  consideration   of such transfer is not affected by the trustee's misapplication of such   money or property.