Statute · New York Estates, Powers & Trusts Law
N.Y. Est. Powers & Trusts Law § 2-1.15 — Consequences of partly ineffective dispositions of trust
N.Y. Est. Powers & Trusts Law § 2-1.15
- Type
- Statute
- Source
- New York Estates, Powers & Trusts Law
- Jurisdiction
- New York
- Current through
- Nov 4, 2026 (NY Senate Open Legislation)
§ 2-1.15 Consequences of partly ineffective dispositions of trust principal to two or more beneficiaries
Citator
N.Y. Est. Powers & Trusts Law § 2-1.15 — Consequences of partly ineffective dispositions of trust is in force in the current edition of the Code, and nothing recorded condemns it.
§ 2-1.15 Consequences of partly ineffective dispositions of trust principal to two or more beneficiaries
Whenever the remainder of a lifetime or testamentary trust passes, whether outright or in further trust, to two or more designated beneficiaries, and such remainder is ineffective in part and no effective alternative disposition has been made in the governing instrument, such ineffective part shall pass to the other designated beneficiary or, if there are two or more other designated beneficiaries, to such beneficiaries in the proportions that their respective interests in such principal bear to the aggregate of the interests of such designated beneficiaries in such principal.