Iowa Code 633A.2101 – Methods of creating trusts
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Terms Used In Iowa Code 633A.2101
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
- property: includes personal and real property. See Iowa Code 4.1
- Trustee: A person or institution holding and administering property in trust.
633A.2101 Methods of creating trusts.
A trust may be created by any of the following methods:
1. Transfer of property to another person as trustee during the settlor’s lifetime, or by will taking effect upon the settlor’s death.
2. Declaration by the owner of property that the owner holds property as trustee.
3. Exercise of a power of appointment in favor of another person as trustee.
4. A promise enforceable by the trustee to transfer property to the trustee.
99 Acts, ch 125, §8, 109
C2001, §633.2101
2005 Acts, ch 38, §54
CS2005, §633A.2101
A trust may be created by any of the following methods:
1. Transfer of property to another person as trustee during the settlor’s lifetime, or by will taking effect upon the settlor’s death.
2. Declaration by the owner of property that the owner holds property as trustee.
3. Exercise of a power of appointment in favor of another person as trustee.
4. A promise enforceable by the trustee to transfer property to the trustee.
99 Acts, ch 125, §8, 109
C2001, §633.2101
2005 Acts, ch 38, §54
CS2005, §633A.2101