Connecticut General Statutes 45a-489 – Title and beneficial interest in property held in trust not merged nor trust invalidated, when
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(a) The legal title to and the beneficial interest in property that is held in trust are not merged, nor is a trust invalidated, because any person, including the settlor of the trust, is or may become the sole trustee and the sole holder of any or all beneficial interests therein, whether any such interest be vested or contingent, present or future, and whether created by express provision of the trust instrument or as a result of reversion to the settlor’s estate.
Terms Used In Connecticut General Statutes 45a-489
- Person: means an individual, corporation, statutory or business trust, estate, trust, partnership, limited liability company, association, joint venture, court, government, governmental subdivision, agency or instrumentality, public corporation or any other legal or commercial entity. See Connecticut General Statutes 45a-499c
- Property: means anything that may be the subject of ownership, whether real or personal and whether legal or equitable, or any interest therein. See Connecticut General Statutes 45a-499c
- Settlor: means a person, including a testator, that creates or contributes property to a trust. See Connecticut General Statutes 45a-499c
- Trust instrument: means any instrument executed by the settlor, including a will establishing or creating a testamentary trust, that contains terms of the trust, including any amendments thereto. See Connecticut General Statutes 45a-499c
(b) This section shall be applicable to all trusts whether created before, on or after October 1, 1999. Nothing in this section shall be construed to invalidate any trust created prior to October 1, 1999.