Kansas Statutes 59-3403. Same; reformation
Upon the petition of an interested person, a court shall reform a disposition in the manner that most closely approximates the transferor’s manifested plan of distribution and is within the 90 years allowed by subsections (a)(2), (b)(2) or (c)(2) of Kan. Stat. Ann. § 59-3401 if:
(1) A nonvested property interest or a power of appointment becomes invalid under Kan. Stat. Ann. § 59-3401, statutory rule against perpetuities;
Terms Used In Kansas Statutes 59-3403
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Property: includes personal and real property. See Kansas Statutes 77-201
(2) a class gift is not but might become invalid under Kan. Stat. Ann. § 59-3401, statutory rule against perpetuities, and the time has arrived when the share of any class member is to take effect in possession or enjoyment; or
(3) a nonvested property interest that is not validated by subsection (a)(1) of Kan. Stat. Ann. § 59-3401 can vest but not within 90 years after its creation.