Tennessee Code 35-50-121 – Delayed receipt of trust corpus
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Terms Used In Tennessee Code 35-50-121
- Trustee: A person or institution holding and administering property in trust.
- Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.
Any trust agreement or declaration of trust may be valid even if no corpus is delivered to the trustee at the time of execution of the instrument if the trustee has the right to receive corpus at a later time or times from the trustor, the trustor’s estate or other persons or sources.