reglab/housing_qa huggingface dataset:
NY Est Pow & Trusts L § 9-1.3 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 9 - Perpetuities and Accumulations Part 1 - Perpetuities 9-1.3 - Rules of Construction

§ 9-1.3 Rules of construction  (a)  Unless  a  contrary  intention appears, the rules of construction provided in this section govern with respect to any matter affecting the rule against perpetuities.  (b) It shall be presumed that the creator intended the  estate  to  be valid.  (c)  Where  an  estate  would,  except  for this paragraph, be invalid because of the possibility that the  person  to  whom  it  is  given  or limited  may be a person not in being at the time of the creation of the estate, and such person is referred to in the instrument  creating  such estate  as  the spouse of another without other identification, it shall be presumed that such reference is to a person in being on the effective date of the instrument.  (d) Where the duration or vesting of an estate is contingent upon  the probate  of  a  will,  the appointment of a fiduciary, the location of a distributee, the payment of debts, the sale of assets, the settlement of an estate, the determination of  questions  relating  to  an  estate  or transfer tax or the occurrence of any specified contingency, it shall be presumed  that  the  creator of such estate intended such contingency to occur, if at all, within twenty-one years from the effective date of the instrument creating such estate.  (e) (1) Where the validity of a disposition depends upon  the  ability of  a  person to have a child at some future time, it shall be presumed, subject to subparagraph (2), that a male can have a  child  at  fourteen years of age or over, but not under that age, and that a female can have a  child  at twelve years of age or over, but not under that age or over the age of fifty-five years.  (2) In the case of a living person, evidence may be given to establish whether he or she is able to have a child at the time in question.  (3) Where the validity of a disposition depends upon the ability of  a person  to  have  a child at some future time, the possibility that such person may have a child by adoption shall be disregarded.  (4) The provisions of subparagraphs (1), (2) and (3) shall  not  apply for  any  purpose  other  than  that  of  determining  the validity of a disposition under the rule  against  perpetuities  where  such  validity depends  on the ability of a person to have a child at some future time. A determination of validity or invalidity of  a  disposition  under  the rule  against perpetuities by the application of subparagraph (1) or (2) or (3) shall not be  affected  by  the  later  occurrence  of  facts  in contradiction  to the facts presumed or determined or the possibility of adoption disregarded under subparagraphs (1) or (2) or (3).
NY Est Pow & Trusts L § 9-1.4 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 9 - Perpetuities and Accumulations Part 1 - Perpetuities 9-1.4 - Acquisition of Real Property by Foreign Trust

§ 9-1.4 Acquisition of real property by foreign trustWhere  real  property  situated  in  this state is acquired by a trust   validly created under the law of another jurisdiction, whether there  is   a violation of the rule against perpetuities and whether a direction for   the accumulation of rents and profits is valid are determined by the law   of this state in effect at the time of the acquisition of such property.
NY Est Pow & Trusts L § 9-1.5 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 9 - Perpetuities and Accumulations Part 1 - Perpetuities 9-1.5 - Trust With Transferable Certificates

§ 9-1.5 Trust with transferable certificatesA  trust  with  transferable  certificates,  heretofore  or  hereafter   created, is not invalid as violating the rule against perpetuities;  but   such  trust may continue for such time as may be necessary to accomplish   the purposes for which it is created if  the  instrument  creating  such   trust  provides  that  it may be terminated at any time by action of the   trustees or by affirmative vote of the beneficiaries having a  specified   percentage  of  interest therein.  This section applies to an investment   trust, which is  an  unincorporated  trust  or  association  managed  by   trustees  not holding any property for sale to customers in the ordinary   course of its trade or business, the beneficial ownership  of  which  is   evidenced  by  transferable  shares  or  by transferable certificates of   beneficial interest offered for sale to the public.
NY Est Pow & Trusts L § 9-1.6 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 9 - Perpetuities and Accumulations Part 1 - Perpetuities 9-1.6 - Trust for Employees

§ 9-1.6 Trust for employeesA  trust  created  by  an employer, as part of a stock bonus, pension,   disability or death benefit or profit-sharing plan,  for  the  exclusive   benefit of some or all of his employees, to which contributions are made   by  such employer or employees, or both, for the purpose of distributing   to such employees the income or principal, or both, of the fund so  held   in trust, is not invalid as violating the rule against perpetuities; but   such  trust may continue for such time as may be necessary to accomplish   the purposes for which it is created.
NY Est Pow & Trusts L § 9-1.7 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 9 - Perpetuities and Accumulations Part 1 - Perpetuities 9-1.7 - Trust for Self-Employed Individuals and Others

§ 9-1.7 Trust for self-employed individuals and othersNo trust created under a retirement plan, which is exempt from federal   income  taxation  under  the  laws  of  the United States, is invalid as   violating the rule against  perpetuities  or  the  rules  governing  the   accumulation  of income.  Such a trust may continue for such time as may   be necessary to accomplish the purposes for which  it  is  created;  may   permit  the  accumulation  of  income  until  such time as the income is   distributed to the beneficiaries under the terms of the trust; and  may,   according  to  its  terms,  be  made irrevocable and the interest of its   beneficiaries nontransferable by assignment or otherwise.   A  trust  so   made  irrevocable  is not subject to revocation upon the written consent   of its beneficiaries as provided in 7-1.9.
NY Est Pow & Trusts L § 9-1.8 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 9 - Perpetuities and Accumulations Part 1 - Perpetuities 9-1.8 - Trust Created by National Securities Exchange to Assist Customers of Members, Member Firms or Member Corporations

§ 9-1.8 Trust   created   by  national  securities  exchange  to  assist           customers of members, member firms or member corporations  (a) A trust created by a national securities exchange for the  purpose of  enabling  the  trustees,  in  their discretion, to provide direct or indirect assistance to customers of a  member,  member  firm  or  member corporation  of  such  exchange,  threatened with loss of their money or securities because such member, member firm or  member  corporation,  in the  opinion  of  the  trustees,  is  insolvent or may be unable without assistance to meet its obligations to such customers, is not invalid  as violating  the  rule  against  perpetuities  or  the rules governing the accumulation of income. Such a trust may continue and may accumulate the income from the property held therein for such time as may be  necessary to accomplish the purposes for which it is created.  (b)  As  used in this section, the term "national securities exchange" means any exchange registered as a national  securities  exchange  under the  federal securities exchange act of nineteen hundred thirty-four, as the same may be amended from time to time.
NY Est Pow & Trusts L § 9-2.1 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 9 - Perpetuities and Accumulations Part 2 - Accumulations 9-2.1 - Rules Governing Accumulations

§ 9-2.1 Rules governing accumulations  (a)  All  directions  for  the  accumulation of income are void unless authorized by statute.  (b) A direction for the  accumulation  of  income  is  valid  if  such accumulation  is  to  begin and terminate within the time allowed by the rule against perpetuities. An accumulation directed to  continue  for  a period extending beyond the expiration of such time terminates upon such expiration.  (c)  Where  property  is  disposed  of  in  trust  for  any religious, charitable, educational  or  benevolent  purpose  and  no  valid  future estate,  except for a similar purpose, is created by such disposition, a direction for the accumulation by the trustee  of  income  received  for such  purpose  is  valid  without  regard  to  the  time  at  which  the accumulation is to begin  or  to  terminate,  but  the  accumulation  is subject  to  the  supervision  and  control  of the supreme court or the surrogate's court as provided in 8-1.1.  (d) The income from a trust created by an employer, as part of a stock bonus, a pension, disability or death benefit  or  profit-sharing  plan, for  the  exclusive  benefit  of  some or all of his employees, to which contributions are made by such employer or employees or  both,  for  the purpose  of  distributing  to such employees the income or principal, or both, of the trust, may be accumulated until the funds  are  sufficient, in the opinion of the employer, to accomplish the purposes of such plan.
NY Est Pow & Trusts L § 9-2.2 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 9 - Perpetuities and Accumulations Part 2 - Accumulations 9-2.2 - Anticipation of Directed Accumulation

§ 9-2.2 Anticipation of directed accumulation  (a)  When a valid accumulation is directed for the benefit of a person without other sufficient  means  to  support  or  educate  himself,  the supreme  court  or,  if  such  accumulation  was  directed  by will, the surrogate's court of the county  in  which  such  will  is  admitted  to probate,  on the application of such person, his guardian, committee, or conservator may direct that a suitable sum from the  income  accumulated or  to  be  accumulated  be applied for the support or education of such person.  (b) When the proceeds of a life insurance policy issued  or  delivered in  this  state  are being retained under an agreement by the insurer to credit interest thereon for  the  benefit  of  a  person  without  other sufficient  means  to  support or educate himself, the supreme court, on the application of such person, his guardian, committee, or  conservator may  direct  that a suitable sum from the interest credited or agreed to be credited be applied for the support or education of such person.
NY Est Pow & Trusts L § 9-2.3 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 9 - Perpetuities and Accumulations Part 2 - Accumulations 9-2.3 - Undistributed Income

§ 9-2.3 Undistributed incomeWhen income is not disposed of and no valid direction is given for its   accumulation it passes to the persons presumptively entitled to the next   eventual estate.
NY Est Pow & Trusts L § 10-1.1 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 10 - Powers Part 1 - Common Law of Powers Established With Exceptions 10-1.1 - Common Law of Powers Retained, Except as Modified by This Article

§ 10-1.1 Common  law  of  powers  retained,  except  as modified by thisarticleThe common law of powers as embodied in this article and as to matters   not included herein, as heretofore established, is retained as  the  law   of this state except as modified by the provisions of this article.
NY Est Pow & Trusts L § 10-2.1 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 10 - Powers Part 2 - Definitions 10-2.1 - Power

§ 10-2.1 PowerA  power  is  an  authority  to  do  any  act in relation to property,   including the creation or revocation of an estate therein  or  a  charge   thereon,  which the donor of the power might himself do, except that the   term, as used in this article, does not apply to a power of attorney  to   convey property in the name of the owner, regulated by other statutes.
NY Est Pow & Trusts L § 10-2.2 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 10 - Powers Part 2 - Definitions 10-2.2 - Other Words Defined

§ 10-2.2 Other words defined  (a) Donor. A donor is the person who creates or reserves a power.  (b)  Donee. A donee is the person to whom a power is given or in whose favor a power is reserved.  (c) Appointee. An appointee is the person in whose favor  a  power  of appointment is exercisable.  (d)  Appointive property. Appointive property is property which is the subject of a power of appointment.
NY Est Pow & Trusts L § 10-3.1 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 10 - Powers Part 3 - Varieties of Powers 10-3.1 - Powers of Appointment and Other Powers

§ 10-3.1 Powers of appointment and other powers  (a)  This  article  applies  to  powers  of  appointment.  A  power of appointment, as the term is  used  in  this  article,  is  an  authority created  or  reserved  by  a  person  having  property  subject  to  his disposition, enabling the donee to designate, within such limits as  may be prescribed by the donor, the appointees of the property or the shares or the manner in which such property shall be received.  (b) This article applies, generally, to powers which are not powers of appointment,  such as a power to revoke a disposition previously made, a power during minority to manage property vested in an infant, a power to disburse the principal of a trust, a power to sell in a mortgage  and  a power in a life tenant to make leases. This enumeration is not exclusive but illustrative.
NY Est Pow & Trusts L § 10-3.2 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 10 - Powers Part 3 - Varieties of Powers 10-3.2 - Classification of Powers of Appointment as to Kind; General and Special; Exclusive and Non-Exclusive

§ 10-3.2 Classification of powers of appointment as to kind; general and            special; exclusive and non-exclusive  (a) A power of appointment is:  (1) general or special.  (2) exclusive or non-exclusive.  (b)  A  power  of  appointment  is  general  to  the extent that it is exercisable wholly in favor of the donee, his estate, his  creditors  or the creditors of his estate.  (c) All other powers of appointment are special.  (d) A special power of appointment is exclusive if it may be exercised in  favor  of  one  or  more  of  the appointees to the exclusion of the others.  (e) A special power of appointment is  non-exclusive  if  it  must  be exercised in favor of all the appointees.
NY Est Pow & Trusts L § 10-3.3 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 10 - Powers Part 3 - Varieties of Powers 10-3.3 - Classification of Powers of Appointment as to Time of Exercise; Presently Exercisable, Testamentary and Postponed

§ 10-3.3 Classification of powers of appointment as to time of exercise;            presently exercisable, testamentary and postponed  (a)  A power of appointment, as to the time of its exercise, is either presently exercisable, testamentary or postponed.  (b) A power of appointment is  presently  exercisable  if  it  may  be exercised  by  the donee, during his lifetime or by his written will, at any time after its creation, and does not include a postponed  power  as described in paragraph (d).  (c)  A  power of appointment is testamentary if it is exercisable only by a written will of the donee.  (d) A power of appointment is postponed if it is  exercisable  by  the donee only after the expiration of a stated time or after the occurrence or non-occurrence of a specified event.
NY Est Pow & Trusts L § 10-3.4 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 10 - Powers Part 3 - Varieties of Powers 10-3.4 - Classification of Powers of Appointment as to Duty to Exercise; Imperative and Discretionary

§ 10-3.4 Classification of powers of appointment as to duty to exercise;            imperative and discretionary  (a) A power of appointment is either imperative or discretionary.  (b) A power of appointment is imperative if the instrument creating it imposes  on  the  donee  a duty to exercise it, and it may be imperative even though it is exclusive.  (c) A power of appointment is discretionary if the donee is authorized to exercise or not to exercise it.
NY Est Pow & Trusts L § 10-4.1 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 10 - Powers Part 4 - Creation of a Power of Appointment 10-4.1 - Rules for Creation of a Power of Appointment.

§ 10-4.1 Rules for creation of a power of appointment.  (a) The donor of a power of appointment:  (1) Must be a person capable of transferring the appointive property.  (2)  Must  have  created or reserved the power by a written instrument executed by him in the manner required by law.  (3) Must manifest his intention  to  confer  the  power  on  a  person capable of holding the appointive property.  (4)  Cannot  nullify or alter the rights of creditors of the donee, as defined in this article, by any language in the instrument  creating  or reserving  the  power  purporting  to  give the interest of such donee a spendthrift character.
NY Est Pow & Trusts L § 10-5.1 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 10 - Powers Part 5 - Extent of Donee's Authority to Appoint or Contract to Appoint an Estate in Appointive Property 10-5.1 - Scope of the Authority of the Donee

§ 10-5.1 Scope of the authority of the doneeThe scope of the donee's authority as to appointees and as to the time   and manner of the appointment is unlimited except as the donor manifests   a contrary intention.
NY Est Pow & Trusts L § 10-5.2 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 10 - Powers Part 5 - Extent of Donee's Authority to Appoint or Contract to Appoint an Estate in Appointive Property 10-5.2 - Contract to Appoint; Power Presently Exercisable

§ 10-5.2 Contract to appoint; power presently exercisableThe donee of a power of appointment which is presently exercisable, or   of  a postponed power which has become exercisable, can contract to make   an  appointment  to  the  extent  that  the  contract  or  the  promised   appointment  does  not  confer  a  benefit  upon  a  person who is not a   permissible appointee under the power.
NY Est Pow & Trusts L § 10-5.3 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 10 - Powers Part 5 - Extent of Donee's Authority to Appoint or Contract to Appoint an Estate in Appointive Property 10-5.3 - Contract to Appoint; Power Not Presently Exercisable

§ 10-5.3 Contract to appoint; power not presently exercisable  (a)  The  donee  of  a  power  of  appointment  which is not presently exercisable, or of a postponed power which has not  become  exercisable, cannot  contract  to  make  an appointment; except that this prohibition shall not apply if the donor and donee  are  the  same  person.  Such  a prohibited  contract,  if  made,  cannot  be  the basis of an action for specific performance or damages, but the promisee can obtain restitution of the value given by him for the promise unless the donee has exercised the power pursuant to the contract.  (b) The provisions of this section shall not abridge  the  ability  of the  donee  of a power of appointment which is not presently exercisable to release his power pursuant to 10-9.2 or  to  make  the  power,  after release,  an  imperative  power,  except that where the donor designated persons or a class to take in default of the  donee's  exercise  of  the power,  a  release  with  respect  to  appointive property must serve to benefit all those so designated as provided by the donor.
NY Est Pow & Trusts L § 10-5.4 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 10 - Powers Part 5 - Extent of Donee's Authority to Appoint or Contract to Appoint an Estate in Appointive Property 10-5.4 - Priority

§ 10-5.4 PriorityThe  interest  of  the  donee  of  a  power of appointment, and of any   appointee thereunder, has priority with respect to real property subject   thereto, as against creditors,  purchasers  or  incumbrancers,  in  good   faith  and  without notice, of or from a person having an estate in such   property, only from the time at which the instrument creating the  power   is  duly  recorded.  As  against  all  other  persons, such interest has   priority from the time at which the instrument creating the power  takes   effect.
NY Est Pow & Trusts L § 10-6.1 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 10 - Powers Part 6 - Rules Governing Exercise of a Power of Appointment 10-6.1 - Exercise of a Power of Appointment; Manifestation of Intention of Donee

§ 10-6.1 Exercise  of a power of appointment; manifestation of intention            of donee  (a) Subject to paragraph (b), an effective  exercise  of  a  power  of appointment does not require an express reference to such power. A power is  effectively  exercised  if  the  donee  manifests  his  intention to exercise it. Such a manifestation exists when the donee:  (1) Declares in substance that he is exercising all the powers he has;  (2) Sufficiently identifying  the  appointive  property  or  any  part thereof,  executes  an instrument purporting to dispose of such property or part;  (3) Makes a  disposition  which,  when  read  with  reference  to  the property  he  owned  and  the  circumstances existing at the time of its making, manifests  his  understanding  that  he  was  disposing  of  the appointive property; or  (4)  Leaves  a  will  disposing  of  all of his property or all of his property of the kind covered by the power, unless the intention that the will is not to operate as an execution of the power appears expressly or by necessary implication.  (b) If the donor has expressly directed that no  instrument  shall  be effective  to exercise the power unless it contains a specific reference to the power, an instrument  not  containing  such  reference  does  not validly exercise the power.
NY Est Pow & Trusts L § 10-6.2 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 10 - Powers Part 6 - Rules Governing Exercise of a Power of Appointment 10-6.2 - Exercise of a Power of Appointment; Conformity to Directions of Donor

§ 10-6.2 Exercise of a power of appointment; conformity to directions of            donor  (a)  Subject  to  the  power  of  a court of competent jurisdiction to remedy a defective execution of an imperative power of appointment,  the directions  of  the  donor  as to the manner, time and conditions of the exercise of a power must be observed, except that:  (1) Where the donor has authorized it to be exercised by an instrument legally insufficient to dispose of the appointive property,  the  manner of exercise is to be determined by the provisions of this article.  (2)  Where  the donor has directed any formality to be observed in its exercise, in addition to those which  would  be  legally  sufficient  to dispose  of  the  appointive  property, such additional formality is not necessary to a valid exercise of such power.  (3) Where the donor has made the power exercisable only by deed, it is also exercisable by a written will unless exercise by will is  expressly excluded.  (4)  Where  the  donor  of  a  general  power  of  appointment has not expressly imposed a requirement of good faith or of reasonableness  with respect  to the donee's exercise of such power, neither such requirement shall be implied.
NY Est Pow & Trusts L § 10-6.3 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 10 - Powers Part 6 - Rules Governing Exercise of a Power of Appointment 10-6.3 - Exercise of a Power of Appointment; Type of Instrument

§ 10-6.3 Exercise of a power of appointment; type of instrumentA  power  of appointment can be exercised only by a written instrument   which would be sufficient to  dispose  of  the  estate  intended  to  be   appointed if the donee were the actual owner.