Statute · New York Estates, Powers & Trusts Law
N.Y. Est. Powers & Trusts Law § 7-1.18 — Funding of lifetime trust
N.Y. Est. Powers & Trusts Law § 7-1.18
- Type
- Statute
- Source
- New York Estates, Powers & Trusts Law
- Jurisdiction
- New York
- Current through
- Nov 4, 2026 (NY Senate Open Legislation)
§ 7-1.18 Funding of lifetime trust
Citator
N.Y. Est. Powers & Trusts Law § 7-1.18 — Funding of lifetime trust is in force in the current edition of the Code, and nothing recorded condemns it.
§ 7-1.18 Funding of lifetime trust
A 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.