South Dakota Codified Laws 43-5-4. Suspension of power to alienate trust as suspension of power of alienation
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The suspension of all power to alienate the subject of a trust is a suspension of the power of alienation. However, there is no suspension of the power of alienation by a trust or by equitable interests under a trust if the trustee has power to sell, either expressed or implied, or if there is an unlimited power to terminate in one or more persons in being.
Terms Used In South Dakota Codified Laws 43-5-4
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Trustee: A person or institution holding and administering property in trust.
Source: CivC 1877, § 228; CL 1887, § 2744; RCivC 1903, § 251; RC 1919, § 321; SDC 1939, § 51.0412; SL 1983, ch 304, § 8.