reglab/housing_qa huggingface dataset:
KS Stat § 58-4902 (2021)
2021 Kansas Statutes|Chapter 58 - Personal And Real Property|Article 49 - First-time Home Buyer Savings Account Act|58-4902 Definitions.

58-4902. Definitions. As used in the first-time home buyer savings account act:(a) "Account" or "first-time home buyer savings account" means an individual savings account established in accordance with the provisions of this act.(b) "Account holder" means an individual who establishes an account that is designated as a first-time home buyer savings account pursuant to the provisions of K.S.A. 2021 Supp. 58-4903, and amendments thereto, with a financial institution.(c) "Designated beneficiary" means the individual designated by an account holder pursuant to the provisions of K.S.A. 2021 Supp. 58-4903, and amendments thereto, as the individual whose eligible expenses are expected to be paid from the account for the purchase or construction of a primary residence in this state.(d) "Eligible expenses" means a down payment and any closing costs that may be included as part of a real estate settlement agreement, including, but not limited to, appraisal fees, mortgage origination fees and inspection fees or any down payment, costs and fees that may be included as part of financing the construction of a primary residence.(e) "Financial institution" means any state bank, state trust company, savings and loan association, federally chartered credit union doing business in this state, credit union chartered by the state of Kansas, national bank, broker-dealer, mutual fund, insurance company or other similar financial entity qualified to do business in this state.(f) "First-time home buyer" means an individual who:(1) Has never owned or purchased under contract for deed, either individually or jointly, a single-family, owner-occupied primary residence including, but not limited to, a condominium unit or a manufactured or mobile home that was assessed and taxed as real property; or(2) as a result of the individual's dissolution of marriage, has not been listed on a property title for at least three consecutive years.(g) "Secretary" means the secretary of revenue.History: L. 2021, ch. 102, § 2; July 1.
KS Stat § 58-4903 (2021)
2021 Kansas Statutes|Chapter 58 - Personal And Real Property|Article 49 - First-time Home Buyer Savings Account Act|58-4903 Designation of first-time home buyer savings account; designated beneficiary; contribution limits; responsibilities of account holder.

58-4903. Designation of first-time home buyer savings account; designated beneficiary; contribution limits; responsibilities of account holder. (a) On and after July 1, 2022, any individual may open an account with a financial institution and designate the account, in its entirety, as a first-time home buyer savings account to be used to pay or reimburse a designated beneficiary's eligible expenses for the purchase or construction of a primary residence in this state. An individual may be the account holder of multiple accounts and an individual may jointly own the account with another individual if such individuals file a joint income tax return. An account holder shall comply with the requirements of this act to be eligible for the modifications set forth in K.S.A. 79-32,117, and amendments thereto.(b) An account holder shall designate, no later than April 15 of the year following the taxable year during which the account is established, a first-time home buyer as the designated beneficiary of the account. Nothing in this section shall prohibit an account holder from designating such account holder as the designated beneficiary of an account. An account holder may change the designated beneficiary at any time, but no account shall have more than one designated beneficiary at any time. An individual may be designated as the designated beneficiary of more than one account if such accounts are held by separate account holders. No account holder shall be authorized to designate the same designated beneficiary on multiple accounts held by such account owner.(c) (1) The following limits apply to an account established pursuant to this act:(A) The maximum contribution to an account in any tax year shall be $3,000 for an individual and $6,000 for a married couple filing a joint return;(B) the maximum amount of all contributions into an account in all tax years shall be $24,000 for an individual and $48,000 for a married couple filing a joint return; and(C) the maximum total amount in an account shall be $50,000.(2) If a limit in paragraph (1) is exceeded, then thereafter all interest or other income earned on the investment of moneys in an account shall be subject to the tax imposed by the Kansas income tax act.(3) Moneys may remain in an account for an unlimited duration without the interest or income being subject to recapture or penalty.(d) The account holder shall not use moneys in an account to pay expenses of administering the account, except that a service fee may be deducted from the account by a financial institution. The account holder shall be responsible for maintaining documentation for the account and for eligible expenses related to the designated beneficiary's purchase or construction of a primary residence.History: L. 2021, ch. 102, § 3; July 1.
KS Stat § 58-4905 (2021)
2021 Kansas Statutes|Chapter 58 - Personal And Real Property|Article 49 - First-time Home Buyer Savings Account Act|58-4905 Annual reporting; forms; rules and regulations.

58-4905. Annual reporting; forms; rules and regulations. (a) The secretary shall establish forms for an account holder to annually report information about any accounts held by such account holder. An account holder shall annually file with the account holder's state income tax return all forms required by the secretary under this section, the form 1099 for the account issued by the financial institution and any other supporting documentation the secretary requires.(b) Prior to July 1, 2022, the secretary shall adopt rules and regulations necessary to administer the provisions of the first-time home buyer savings account act.History: L. 2021, ch. 102, § 5; July 1.
KS Stat § 58-4906 (2021)
2021 Kansas Statutes|Chapter 58 - Personal And Real Property|Article 49 - First-time Home Buyer Savings Account Act|58-4906 Financial institutions; actions not responsible or liable for.

58-4906. Financial institutions; actions not responsible or liable for. (a) No financial institution shall be required to:(1) Designate an account as a first-time home buyer savings account or designate the beneficiaries of an account in the financial institution's account contracts or systems or in any other way;(2) track the use of moneys withdrawn from an account; or(3) report any information to the department of revenue or any other governmental agency that is not otherwise required by law.(b) No financial institution shall be responsible or liable for:(1) Determining or ensuring that an account holder is eligible for a Kansas adjusted gross income modification pursuant to K.S.A. 79-32,117, and amendments thereto;(2) determining or ensuring that moneys in the account are used for eligible expenses; or(3) reporting or remitting taxes or penalties related to the use of account moneys.History: L. 2021, ch. 102, § 6; July 1.
KS Stat § 58a-101 (2021)
2021 Kansas Statutes|Chapter 58a - Kansas Uniform Trust Code|Article 1 - General Provisions And Definitions|58a-101 Short title.

58a-101. Short title. This act may be cited as the Kansas uniform trust code.History: L. 2002, ch. 133, § 1; Jan. 1, 2003.Revisor's Note:For Kansas Comments and Uniform Trust Code Comments, see the Kansas Judicial Council web page at www.KansasJudicialCouncil.org.
KS Stat § 58a-102 (2021)
2021 Kansas Statutes|Chapter 58a - Kansas Uniform Trust Code|Article 1 - General Provisions And Definitions|58a-102 Scope.

58a-102. Scope. This code applies to express trusts, charitable or noncharitable, and trusts created pursuant to a statute, judgment, or decree that requires the trust to be administered in the manner of an express trust.History: L. 2002, ch. 133, § 2; Jan. 1, 2003.
KS Stat § 58a-104 (2021)
2021 Kansas Statutes|Chapter 58a - Kansas Uniform Trust Code|Article 1 - General Provisions And Definitions|58a-104 Knowledge.

58a-104. Knowledge. (a) Subject to subsection (b), a person has knowledge of a fact if the person:(1) Has actual knowledge of it;(2) has received a notice or notification of it; or(3) from all the facts and circumstances known to the person at the time in question, has reason to know it.(b) An organization that conducts activities through employees has notice or knowledge of a fact involving a trust only from the time the information was received by an employee having responsibility to act for the trust, or would have been brought to the employee's attention if the organization had exercised reasonable diligence. An organization exercises reasonable diligence if it maintains reasonable routines for communicating significant information to the employee having responsibility to act for the trust and there is reasonable compliance with the routines. Reasonable diligence does not require an employee of the organization to communicate information unless the communication is part of the individual's regular duties or the individual knows a matter involving the trust would be materially affected by the information.History: L. 2002, ch. 133, § 4; Jan. 1, 2003.
KS Stat § 58a-105 (2021)
2021 Kansas Statutes|Chapter 58a - Kansas Uniform Trust Code|Article 1 - General Provisions And Definitions|58a-105 Default and mandatory rules.

58a-105. Default and mandatory rules. (a) Except as otherwise provided in the terms of the trust, this code governs the duties and powers of a trustee, relations among trustees and the rights and interests of a beneficiary.(b) The terms of a trust prevail over any provision of this code except:(1) The requirements for creating a trust;(2) the duty of a trustee to act in good faith and administer the trust in accordance with K.S.A. 58a-801, and amendments thereto;(3) the requirement that a trust and its terms be for the benefit of its beneficiaries, and that the trust have a purpose that is lawful, not contrary to public policy and possible to achieve;(4) the power of the court to modify or terminate a trust under K.S.A. 58a-410 through 58a-416, and amendments thereto;(5) the effect of the rights of creditors to reach a trust as provided in article 5 of chapter 58a of the Kansas Statutes Annotated, and amendments thereto;(6) the power of the court under K.S.A. 58a-702, and amendments thereto, to require, dispense with, or modify or terminate a bond;(7) the power of the court under subsection (b) of K.S.A. 58a-708, and amendments thereto, to adjust a trustee's compensation specified in the terms of the trust which is unreasonably low or high;(8) the effect of an exculpatory term under K.S.A. 58a-1008, and amendments thereto;(9) the rights under K.S.A. 58a-1010 through 58a-1013, and amendments thereto, of a person other than a trustee or beneficiary;(10) periods of limitation for commencing a judicial proceeding under K.S.A. 58a-604, and amendments thereto;(11) the power of the court to take such action and exercise such jurisdiction as may be necessary in the interests of justice; and(12) the barring of claims against trusts and trustees under K.S.A. 58a-818, and amendments thereto.(c) Notwithstanding any provisions of the Kansas uniform trust code to the contrary, any trust created by will and admitted to probate shall be subject to the requirements of chapter 59 of the Kansas Statutes Annotated.History: L. 2002, ch. 133, § 5; L. 2004, ch. 158, § 3; L. 2006, ch. 23, § 2; July 1.
KS Stat § 58a-106 (2021)
2021 Kansas Statutes|Chapter 58a - Kansas Uniform Trust Code|Article 1 - General Provisions And Definitions|58a-106 Common law of trusts; principles of equity.

58a-106. Common law of trusts; principles of equity. The common law of trusts and principles of equity supplement this code, except to the extent modified by this code or another statute of this state.History: L. 2002, ch. 133, § 6; Jan. 1, 2003.
KS Stat § 58a-107 (2021)
2021 Kansas Statutes|Chapter 58a - Kansas Uniform Trust Code|Article 1 - General Provisions And Definitions|58a-107 Governing law.

58a-107. Governing law. The meaning and effect of the terms of a trust are determined by:(1) The law of the jurisdiction designated in the terms unless the designation of that jurisdiction's law is contrary to the law of the jurisdiction having the most significant relationship to the matter at issue; or(2) in the absence of a controlling designation in the terms of the trust, the law of the jurisdiction having the most significant relationship to the matter at issue.History: L. 2002, ch. 133, § 7; Jan. 1, 2003.
KS Stat § 58a-108 (2021)
2021 Kansas Statutes|Chapter 58a - Kansas Uniform Trust Code|Article 1 - General Provisions And Definitions|58a-108 Principal place of administration.

58a-108. Principal place of administration. (a) Without precluding other means for establishing a sufficient connection with the designated jurisdiction, terms of a trust designating the principal place of administration are valid and controlling if:(1) A trustee's principal place of business is located in or a trustee is a resident of the designated jurisdiction; or(2) all or part of the administration occurs in the designated jurisdiction.(b) A trustee is under a duty to administer the trust at a place appropriate to its purposes, its administration, and the interests of the beneficiaries. In determining the appropriate place for the administration of the trust, consideration shall be given to the designation of the settlor, the purposes of the trust, the interests of the beneficiaries and the manner and costs of trust administration.(c) Without precluding the right of the court to order, approve, or disapprove a transfer, the trustee, in furtherance of the duty prescribed by subsection (b), may transfer the trust's principal place of administration to another state or to a jurisdiction outside of the United States.(d) The trustee shall notify the qualified beneficiaries of a proposed transfer of a trust's principal place of administration not less than 60 days before initiating the transfer. The notice of proposed transfer must include:(1) The name of the jurisdiction to which the principal place of administration is to be transferred;(2) the address and telephone number at the new location at which the trustee can be contacted;(3) an explanation of the reasons for the proposed transfer;(4) the date on which the proposed transfer is anticipated to occur; and(5) the date, not less than 60 days after the giving of the notice, by which the qualified beneficiary must notify the trustee of an objection to the proposed transfer.(e) The authority of a trustee under this section to transfer a trust's principal place of administration terminates if a qualified beneficiary notifies the trustee of an objection to the proposed transfer on or before the date specified in the notice.(f) In connection with a transfer of the trust's principal place of administration, the trustee may transfer some or all of the trust property to a successor trustee designated in the terms of the trust or appointed pursuant to K.S.A. 58a-704, and amendments thereto.History: L. 2002, ch. 133, § 8; L. 2006, ch. 23, § 3; July 1.
KS Stat § 58a-109 (2021)
2021 Kansas Statutes|Chapter 58a - Kansas Uniform Trust Code|Article 1 - General Provisions And Definitions|58a-109 Methods and waiver of notice.

58a-109. Methods and waiver of notice. (a) Notice to a person under this code or the sending of a document to a person under this code must be accomplished in a manner reasonably suitable under the circumstances and likely to result in receipt of the notice or document. Permissible methods of notice or for sending a document include first-class mail, personal delivery, delivery to the person's last known place of residence or place of business, or a properly directed electronic message.(b) Notice otherwise required under this code or a document otherwise required to be sent under this code need not be provided to a person whose identity or location is unknown to and not reasonably ascertainable by the trustee.(c) Notice under this code or the sending of a document under this code may be waived by the person to be notified or sent the document.(d) Notice of a judicial proceeding must be given as provided in the code of civil procedure.History: L. 2002, ch. 133, § 9; Jan. 1, 2003.
KS Stat § 58a-110 (2021)
2021 Kansas Statutes|Chapter 58a - Kansas Uniform Trust Code|Article 1 - General Provisions And Definitions|58a-110 Others treated as qualified beneficiaries.

58a-110. Others treated as qualified beneficiaries. (a) A charitable organization expressly mandated to receive distributions under the terms of a trust has the rights of a qualified beneficiary under this code, if the charitable organization, on the date the charitable organization's qualification is being determined:(1) Is a distributee of trust income or principal;(2) would be a distributee of trust income or principal upon the termination of the interests of other distributees then receiving or eligible to receive distributions; or(3) would be a distributee of trust income or principal if the trust terminated on that date.(b) A person appointed to enforce a trust created for the care of an animal or another noncharitable purpose as provided in K.S.A. 58a-408 or 58a-409, and amendments thereto, has the rights of a qualified beneficiary under this code.(c) The attorney general of this state has the rights of a qualified beneficiary with respect to a charitable trust having its principal place of administration in this state.History: L. 2002, ch. 133, § 10; L. 2006, ch. 23, § 4; July 1.
KS Stat § 58a-111 (2021)
2021 Kansas Statutes|Chapter 58a - Kansas Uniform Trust Code|Article 1 - General Provisions And Definitions|58a-111 Nonjudicial settlement agreements.

58a-111. Nonjudicial settlement agreements. (a) For purposes of this section, "interested persons" means persons whose consent would be required in order to achieve a binding settlement were the settlement to be approved by the court.(b) Except as otherwise provided in subsection (c), interested persons may enter into a binding nonjudicial settlement agreement with respect to the matters listed in subsection (d).(c) A nonjudicial settlement agreement is valid only to the extent it does not violate a material purpose of the trust and includes terms and conditions that could be properly approved by the court under this code or other applicable law.(d) Matters that may be resolved by a nonjudicial settlement agreement are limited to:(1) The approval of a trustee's report or accounting;(2) the resignation or appointment of a trustee and the determination of a trustee's compensation;(3) transfer of a trust's principal place of administration; and(4) liability of a trustee for an action relating to the trust.(e) Any interested person may request the court to approve a nonjudicial settlement agreement, to determine whether the representation as provided in article 3 of this code was adequate, and to determine whether the agreement contains terms and conditions the court could have properly approved.History: L. 2002, ch. 133, § 11; L. 2006, ch. 23, § 5; July 1.
KS Stat § 58a-112 (2021)
2021 Kansas Statutes|Chapter 58a - Kansas Uniform Trust Code|Article 1 - General Provisions And Definitions|58a-112 Rules of construction.

58a-112. Rules of construction. The rules of construction that apply in this state to the interpretation of and disposition of property by will also apply as appropriate to the interpretation of the terms of a trust and the disposition of the trust property.History: L. 2002, ch. 133, § 12; Jan. 1, 2003.
KS Stat § 58a-113 (2021)
2021 Kansas Statutes|Chapter 58a - Kansas Uniform Trust Code|Article 1 - General Provisions And Definitions|58a-113 Insurable interest of trustee.

58a-113. Insurable interest of trustee. (a) In this section, "settlor" means a person that executes a trust instrument. The term includes a person for which a fiduciary or agent is acting.(b) A trustee of a trust has an insurable interest in the life of an individual insured under a life insurance policy that is owned by the trustee of the trust acting in a fiduciary capacity or that designates the trust itself as the owner if, on the date the policy is issued:(1) The insured is:(A) A settlor of the trust; or(B) an individual in whom a settlor of the trust has, or would have had if living at the time the policy was issued, an insurable interest; and(2) the life insurance proceeds are primarily for the benefit of one or more trust beneficiaries that have:(A) An insurable interest in the life of the insured; or(B) a substantial interest engendered by love and affection in the continuation of the life of the insured and, if not already included under subparagraph (A), who are:(i) Related within a third degree or closer, as measured by the civil law system of determining degrees of relation, either by blood or law, to the insured; or(ii) stepchildren of the insured, or children of the insured's stepchild, either by blood or law.(c) This section shall be part of the [and] supplemental to the Kansas uniform trust code.History: L. 2011, ch. 31, § 1; July 1.
KS Stat § 58a-201 (2021)
2021 Kansas Statutes|Chapter 58a - Kansas Uniform Trust Code|Article 2 - Judicial Proceedings|58a-201 Role of court in administration of trust.

58a-201. Role of court in administration of trust. (a) The court may intervene in the administration of a trust to the extent its jurisdiction is invoked by an interested person or as provided by law.(b) A trust is not subject to continuing judicial supervision unless ordered by the court.(c) A judicial proceeding involving a trust may relate to any matter involving the trust's administration, including an action for declaratory judgment pursuant to K.S.A. 60-1701 et seq., and amendments thereto.History: L. 2002, ch. 133, § 13; Jan. 1, 2003.
KS Stat § 58a-202 (2021)
2021 Kansas Statutes|Chapter 58a - Kansas Uniform Trust Code|Article 2 - Judicial Proceedings|58a-202 Jurisdiction over trustee and beneficiary.

58a-202. Jurisdiction over trustee and beneficiary. (a) By accepting the trusteeship of a trust having its principal place of administration in this state or by moving the principal place of administration to this state, the trustee submits personally to the jurisdiction of the courts of this state regarding any matter involving the trust.(b) With respect to their interests in the trust, the beneficiaries of a trust having its principal place of administration in this state are subject to the jurisdiction of the courts of this state regarding any matter involving the trust. By accepting a distribution from such a trust, the recipient submits personally to the jurisdiction of the courts of this state regarding any matter involving the trust.(c) This section does not preclude other methods of obtaining jurisdiction over a trustee, beneficiary, or other person receiving property from the trust.History: L. 2002, ch. 133, § 14; Jan. 1, 2003.
KS Stat § 58a-203 (2021)
2021 Kansas Statutes|Chapter 58a - Kansas Uniform Trust Code|Article 2 - Judicial Proceedings|58a-203 Subject-matter jurisdiction.

58a-203. Subject-matter jurisdiction. The district court has exclusive jurisdiction of proceedings in this state brought by a trustee or beneficiary concerning the administration of a trust.History: L. 2002, ch. 133, § 15; Jan. 1, 2003.