reglab/housing_qa huggingface dataset:
NY Est Pow & Trusts L § 7-3.4 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 3 - Rights of Purchasers, Creditors and Other Persons 7-3.4 - Excess Income From Trust Property Subject to Creditors' Claims

§ 7-3.4 Excess income from trust property subject to creditors' claimsWhere  a  trust  is created to receive the income from property and no   valid direction for accumulation is given, the income in excess  of  the   sum  necessary  for  the  education  and  support  of the beneficiary is   subject to the claims of his creditors  in  the  same  manner  as  other   property which cannot be reached by execution.
NY Est Pow & Trusts L § 7-3.5 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 3 - Rights of Purchasers, Creditors and Other Persons 7-3.5 - Rights of Creditors to Obtain Information Concerning Beneficiaries

§ 7-3.5 Rights   of   creditors   to   obtain   information   concerning           beneficiaries  (a) Any person who has furnished necessaries to a beneficiary  of  any trust  may  apply  to  the court having jurisdiction of the trust for an order directing the trustee thereof to furnish to the applicant the true and full name and residence address of any such beneficiary. As used  in this  section, the term "necessaries" means goods furnished and services performed suitable to the condition in life of the person to  whom  they are  furnished  or  for whose benefit they are performed, and which meet his actual needs at the time such necessaries are provided.  (b) The application shall be made by a verified petition which  states (1) the name and address of petitioner, (2) the nature and extent of the necessaries provided, (3) the person by whom and the circumstances under which  they were provided, (4) the amount of the indebtedness claimed to exist, (5) the name of the person to whom  or  for  whose  benefit  such necessaries  were  provided, (6) a description of the trust of which the person to whom such necessaries were provided is a beneficiary  and  (7) the name of the trustee administering such trust.  (c)  Such  petition shall also show the efforts made by the petitioner to locate the beneficiary and that more than ten days have elapsed since petitioner requested in writing that the trustee furnish the address  of any such beneficiary. The petition may contain such other information as is relevant to the inquiry.  (d) The proceeding may be initiated by citation or order to show cause served  on  the trustee personally or in such manner and at such time as the court may direct. A copy of the petition shall be  served  with  the process.  (e)  Upon  the  return of the process the court, if satisfied that the allegations of the petition are true and that the petitioner is entitled to the relief sought, may make an order directing the trustee to furnish to petitioner the true and  full  name  and  residence  address  of  any beneficiary  to  whom  necessaries  were provided. The order may fix the time within which such name and address shall be furnished.  Failure  to comply with an order so made shall be punishable as a contempt of court.
NY Est Pow & Trusts L § 7-5.1 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 5 - Bank Accounts in Trust Form 7-5.1 - Definitions

§ 7-5.1 Definitions  (a)  A  "beneficiary" is a person who is described by a depositor as a person for whom a trust account is established or maintained.  (b) A "depositor" is a person in whose name a trust account subject to this part is established or maintained.  (c) A "financial institution"  is  a  bank,  trust  company,  national banking  association,  savings  bank,  industrial  bank, private banker, foreign banking corporation, federal savings  and  loan  association,  a savings  institution  chartered  and supervised as a savings and loan or similar institution under federal law or the laws of a state, a  federal credit  union, or a credit union chartered and supervised under the laws of a state.  (d) A "trust  account"  includes  a  savings,  share,  certificate  or deposit  account  in  a financial institution established by a depositor describing himself as  trustee  for  another,  other  than  a  depositor describing  himself  as  acting  under a will, trust instrument or other instrument, court order or decree.
NY Est Pow & Trusts L § 7-5.2 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 5 - Bank Accounts in Trust Form 7-5.2 - Terms of a Trust Account

§ 7-5.2 Terms of a trust account   The  funds  in  a  trust account, which shall include any dividends or interest thereon, shall be trust funds subject to the following terms:  (1) The trust can be revoked, terminated or modified by the  depositor during  his lifetime only by means of, and to the extent of, withdrawals from or charges against the trust account  made  or  authorized  by  the depositor  or  by a writing which specifically names the beneficiary and the financial institution. The writing shall be acknowledged  or  proved in  the  manner  required  to entitle conveyances of real property to be recorded, and shall be filed with the financial institution wherein  the account is maintained.  (2)  A trust can be revoked, terminated or modified by the depositor's will only by means of, and  to  the  extent  of,  an  express  direction concerning  such  trust  account, which must be described in the will as being in trust for a named beneficiary in a named financial institution. Where the depositor has more than one trust  account  for  a  particular beneficiary in a particular financial institution, such a direction will affect all such accounts, unless the direction is limited to one or more accounts  specifically  identified  by account number in addition to the foregoing  requirements.  A  testamentary  revocation,  termination   or modification  under  this  paragraph can be effected by express words of revocation, termination or modification, or by a specific bequest of the trust account, or any part of it, to someone other than the beneficiary. A bequest of part of a trust  account  shall  operate  as  a  pro  tanto revocation to the extent of the bequest.  (3)  If  the  depositor  survives  the  beneficiary,  the  trust shall terminate and title to the funds shall continue in  the  depositor  free and clear of the trust.  (4)  If  the  beneficiary  survives the depositor, and the depositor's will contains no provision revoking, terminating or modifying the  trust account  under paragraph (2), the trust shall terminate and title to the funds shall vest in the beneficiary free and clear of the trust.  (5) If the beneficiary survives the depositor and the depositor's will contains language sufficient under paragraph two  of  this  section,  to revoke, terminate or modify the trust, in whole or in part, that part of the trust which is affected shall terminate and title to the funds shall be subject to disposition by the depositor's will, free and clear of the trust.
NY Est Pow & Trusts L § 7-5.3 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 5 - Bank Accounts in Trust Form 7-5.3 - Payment to Beneficiary

§ 7-5.3 Payment to beneficiary  (a)  If the beneficiary survives the depositor under the circumstances provided in paragraph four of section 7-5.2, the funds shall be paid  to the  beneficiary  upon  his  order,  if,  at  the time of his demand for payment of all or part of the funds, he is eighteen  or  more  years  of age.  (b)  If the beneficiary survives the depositor under the circumstances provided in paragraph four of section 7-5.2, and if the  beneficiary  is under  eighteen  years of age at the time demand for payment of any part or all of the funds is made, the funds may be paid to the order  of  the parent  or parents of the beneficiary to be held for the use and benefit of such infant beneficiary  or  to  the  order  of  the  duly  appointed guardian  of  the property of the beneficiary, if the funds are equal to or are less than ten thousand dollars; but if the funds  are  more  than ten  thousand  dollars,  the  funds may be paid only to the order of the duly appointed guardian of the property of the beneficiary.
NY Est Pow & Trusts L § 7-5.4 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 5 - Bank Accounts in Trust Form 7-5.4 - Effect of Payment

§ 7-5.4 Effect of paymentA financial institution which, upon the death of a depositor and prior   to  service  upon  it  of  a  restraining  order,  injunction  or  other   appropriate process from a court of competent  jurisdiction  prohibiting   payment,  makes  payment to a beneficiary or if the beneficiary is under   eighteen years of age, to the guardian of the property or to the  parent   or  parents  of the infant beneficiary pursuant to section 7-5.3, shall,   to the extent of such payment, be released from liability to any  person   claiming  a  right  to  the  funds and the receipt or acquittance of the   person to whom payment is made shall be a valid and  sufficient  release   and discharge of the financial institution.
NY Est Pow & Trusts L § 7-5.5 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 5 - Bank Accounts in Trust Form 7-5.5 - Rights Not Affected

§ 7-5.5 Rights not affected   This part does not affect:  (1) The rights of creditors of the depositor or his estate,  (2) The rights of fiduciaries of the estate of the depositor, or  (3) The rights of the surviving spouse of the depositor.
NY Est Pow & Trusts L § 7-5.6 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 5 - Bank Accounts in Trust Form 7-5.6 - Joint Depositors

§ 7-5.6 Joint depositorsIf  a  trust  account  is  established  in  the names of more than one   depositor, in form to be paid or delivered to any, or  the  survivor  of   them,  in  trust for another, such account shall be subject to the terms   of this part, except that the title to the funds on deposit, as  between   the depositors, shall be governed by article XIII-E of the banking law.
NY Est Pow & Trusts L § 7-5.7 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 5 - Bank Accounts in Trust Form 7-5.7 - Multiple Beneficiaries.

§ 7-5.7 Multiple beneficiaries  (a)  Whenever  any  proceeds of a trust account would pass pursuant to section 7-5.2 to two or more beneficiaries, such proceeds shall pass  to such  beneficiaries  in equal proportions, unless the terms of the trust provide otherwise.  (b) Whenever any proceeds of a trust account would  pass  pursuant  to section  7-5.2  to  two  or  more  beneficiaries, and one or more of the beneficiaries predeceases the depositor, such proceeds shall pass to the surviving beneficiary or beneficiaries in equal proportions, unless  the terms of the trust provide otherwise.
NY Est Pow & Trusts L § 7-5.8 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 5 - Bank Accounts in Trust Form 7-5.8

§ 7-5.8 ApplicationThis  part  shall  apply to all funds in trust accounts, as defined in   paragraph (d) of section 7-5.1, which are in existence on its  effective   date,  except  that its provisions shall not impair or defeat any rights   which have accrued prior to such date.
NY Est Pow & Trusts L § 7-6.1 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 6 - Uniform Transfers to Minors Act 7-6.1 - Definitions

§ 7-6.1 Definitions   In this part:  (a) "Adult" means an individual who has attained the age of twenty-one years.  (b)  "Benefit  plan"  means  an  employer's plan for the benefit of an employee or partner or an individual retirement account.  (c) "Broker" means a  person  lawfully  engaged  in  the  business  of effecting transactions in securities or commodities for the person's own account or for the account of others.  (d)  "Court" means   the supreme court or the surrogate's court having jurisdiction over the minor.  (e)  "Custodial  property"  means  (i)  any   interest   in   property transferred  to a custodian under this part and (ii) the income from and proceeds of that interest in property.  (f) "Custodian"  means  a  person  so  designated  under  7-6.9  or  a successor or substitute custodian designated under 7-6.18.  (g)  "Financial  institution"  means  a  bank,  trust company, savings institution, or credit union, chartered and supervised  under  state  or federal law.  (h) "Guardian" means a person appointed or qualified by a court to act as  general,  limited,  or temporary guardian of a minor's property or a person legally authorized to perform substantially the same functions.  (i)   "Legal   representative"   means   an   individual's    personal representative or guardian.  (j)  "Member  of the minor's family" means any of the minor's parents, stepparents, spouse, grandparents, brothers, sisters, uncles, and aunts, whether of the whole  blood  or  half  blood  or  by  or  through  legal adoption.  (k)  "Minor"  means  an  individual  who  has  not attained the age of twenty-one years.  (l) "Person" means an individual, corporation, organization, or  other legal entity.  (m)  "Personal representative" means a person who has received letters to administer the estate of a decedent or a person legally authorized to perform substantially the same functions.  (n) "State" includes any state of the United States, the  District  of Columbia,  the  Commonwealth  of  Puerto  Rico,  and  any  territory  or possession subject to the legislative authority of the United States.  (o) "Transfer" means a transaction  that  creates  custodial  property under 7-6.9.  (p) "Transferor" means a person who makes a transfer under this part.  (q)  "Trust  company"  means  a financial institution, corporation, or other legal entity, authorized to exercise general trust powers in  this state.
NY Est Pow & Trusts L § 7-6.2 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 6 - Uniform Transfers to Minors Act 7-6.2 - Scope and Jurisdiction

§ 7-6.2 Scope and jurisdiction  (a)  This  part  applies to a transfer that refers to this part in the designation under paragraph (a) of 7-6.9 by which the transfer  is  made if  at  the  time  of  the  transfer,  the transferor, the minor, or the custodian is a resident of this  state  or  the  custodial  property  is located  in  this state. The custodianship so created remains subject to this part despite a subsequent change in residence of a transferor,  the minor,  or the custodian, or the removal of custodial property from this state.  (b) A person designated as custodian under this  part  is  subject  to personal  jurisdiction in this state with respect to any matter relating to the custodianship.  (c) A transfer that purports to be made and which is valid  under  the Uniform  Transfers  to Minors Act, the Uniform Gifts to Minors Act, or a substantially similar act, of another state is governed by  the  law  of the  designated  state  and  may  be executed and is enforceable in this state if at the time of the transfer, the transferor, the minor, or  the custodian  is  a  resident  of  the  designated  state  or the custodial property is located in the designated state.
NY Est Pow & Trusts L § 7-6.3 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 6 - Uniform Transfers to Minors Act 7-6.3 - Nomination of Custodian

§ 7-6.3 Nomination of custodian  (a)  A  person having the right to designate the recipient of property transferable upon  the  occurrence  of  a  future  event  may  revocably nominate  a  custodian  to  receive the property for a minor beneficiary upon the occurrence of the event by naming  the  custodian  followed  in substance  by  the  words  "as  custodian for _________________ (name of minor) under  the  New  York  Uniform  Transfers  to  Minors  Act."  The nomination may name one or more persons as substitute custodians to whom the  property  must  be  transferred,  in  the order named, if the first nominated custodian dies before the transfer or is unable, declines,  or is ineligible to serve. The nomination may be made in a will, a trust, a deed,  an  instrument exercising a power of appointment, or in a writing designating a beneficiary of contractual rights which is registered with or delivered to the payor, issuer, or other obligor of  the  contractual rights.  (b)  A custodian nominated under this section must be a person to whom a transfer of property of that kind may be made under paragraph  (a)  of 7-6.9.  (c)  The  nomination of a custodian under this section does not create custodial property until the nominating instrument  becomes  irrevocable or  a  transfer  to  the  nominated  custodian is completed under 7-6.9. Unless the  nomination  of  a  custodian  has  been  revoked,  upon  the occurrence  of  the future event the custodianship becomes effective and the custodian  shall  enforce  a  transfer  of  the  custodial  property pursuant to 7-6.9.
NY Est Pow & Trusts L § 7-6.4 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 6 - Uniform Transfers to Minors Act 7-6.4 - Transfer by Gift or Exercise of Power of Appointment

§ 7-6.4 Transfer by gift or exercise of power of appointmentA  person  may  make  a  transfer  by  irrevocable  gift  to,  or  the   irrevocable exercise of a power of appointment in favor of, a  custodian   for the benefit of a minor pursuant to 7-6.9.
NY Est Pow & Trusts L § 7-6.5 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 6 - Uniform Transfers to Minors Act 7-6.5 - Transfer Authorized by Will or Trust

§ 7-6.5 Transfer authorized by will or trust  (a)  A  personal  representative  or  trustee  may make an irrevocable transfer pursuant to 7-6.9 to a custodian for the benefit of a minor  as authorized in the governing will or trust.  (b)  If  the testator or settler has nominated a custodian under 7-6.3 to receive the custodial property, the transfer must  be  made  to  that person.  (c)  If  the  testator  or settler has not nominated a custodian under 7-6.3, or all persons so nominated as custodian die before the  transfer or  are  unable,  decline,  or  are  ineligible  to  serve, the personal representative or the trustee, as the case may be, shall  designate  the custodian  from  among those eligible to serve as custodian for property of that kind under paragraph (a) of 7-6.9.
NY Est Pow & Trusts L § 7-6.6 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 6 - Uniform Transfers to Minors Act 7-6.6 - Other Transfer by Fiduciary

§ 7-6.6 Other transfer by fiduciary  (a) Subject to paragraph (c), a personal representative or trustee may make  an  irrevocable  transfer  to  another  adult  or trust company as custodian for the benefit of a minor pursuant to 7-6.9, in  the  absence of  a  will  or  under  a  will  or  trust  that  does  not  contain  an authorization to do so.  (b) Subject to paragraph (c),  a  guardian  may  make  an  irrevocable transfer  to another adult or trust company as custodian for the benefit of the minor pursuant to 7-6.9.  (c) A transfer under paragraph (a) or (b) may be made only if (i)  the personal  representative, trustee, or guardian considers the transfer to be in the  best  interest  of  the  minor,  (ii)  the  transfer  is  not prohibited  by  or  inconsistent with provisions of the applicable will, trust agreement,  or  other  governing  instrument,  and  (iii)  if  the personal representative is acting in the absence of a will, the transfer is  authorized  by  the  court  if  it exceeds fifty thousand dollars in value.
NY Est Pow & Trusts L § 7-6.7 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 6 - Uniform Transfers to Minors Act 7-6.7 - Transfer by Obligor

§ 7-6.7 Transfer by obligor  (a)  Subject  to paragraphs (b) and (c), a person not subject to 7-6.5 or 7-6.6 who holds property of or owes a liquidated debt to a minor  not having  a  guardian  may make an irrevocable transfer to a custodian for the benefit of the minor pursuant to 7-6.9.  (b) If a person having the right to do so under 7-6.3 has nominated  a custodian  under  that  section  to  receive the custodial property, the transfer must be made to that person.  (c) If no custodian has been nominated under 7-6.3, or all persons  so nominated  as  custodian die before the transfer or are unable, decline, or are ineligible to serve, a transfer under this section may be made to an adult member of the minor's family, unless the property exceeds fifty thousand dollars in value, or to a trust company.
NY Est Pow & Trusts L § 7-6.8 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 6 - Uniform Transfers to Minors Act 7-6.8 - Receipt for Custodial Property

§ 7-6.8 Receipt for custodial propertyA  written  acknowledgement  of  delivery by a custodian constitutes a   sufficient receipt and discharge for custodial property transferred to a   custodian pursuant to this part.
NY Est Pow & Trusts L § 7-6.10 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 6 - Uniform Transfers to Minors Act 7-6.10 - Single Custodianship

§ 7-6.10 Single custodianshipA  transfer may be made only for one minor, and only one person may be   the custodian. All custodial property held under this part by  the  same   custodian  for  the  benefit  of  the  same  minor  constitutes a single   custodianship.
NY Est Pow & Trusts L § 7-6.11 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 7 - Trusts Part 6 - Uniform Transfers to Minors Act 7-6.11 - Validity and Effect of Transfer

§ 7-6.11 Validity and effect of transfer  (a)  The  validity  of  a transfer made in a manner prescribed in this part is not affected by:  (1) The failure of the transferor to  comply  with  paragraph  (c)  of 7-6.9 concerning possession and control;  (2)  designation of an ineligible custodian, except designation of the transferor  in  the  case  of  property  for  which  the  transferor  is ineligible to serve as custodian under paragraph (a) of 7-6.9; or  (3)  death  or  incapacity  of  a  person  nominated  under  7-6.3  or designated under 7-6.9 as custodian or the disclaimer of the  office  by that person.  (b)  A  transfer  made  pursuant  to  7-6.9  is  irrevocable,  and the custodial  property  is  indefeasibly  vested  in  the  minor,  but  the custodian  has all the rights, powers, duties, and authority provided in this part, and neither the minor nor the  minor's  legal  representative has  any  right, power, duty, or authority with respect to the custodial property except as provided in this part.  (c)  By  making  a  transfer,  the  transferor  incorporates  in   the disposition all the provisions of this part and grants to the custodian, and  to  any third person dealing with a person designated as custodian, the respective powers, rights, and immunities provided in this part.