Utah Code 75-2-1205. Reformation
Current as of: 2024 | Check for updates
|
Other versions
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 1,000 years allowed by Section
(1) a nonvested property interest or a power of appointment becomes invalid under Section 75-2-1203 ;
Terms Used In Utah Code 75-2-1205
- Court: means any of the courts of record in this state having jurisdiction in matters relating to the affairs of decedents. See Utah Code 75-1-201 v2
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Interested person: includes heirs, devisees, children, spouses, creditors, beneficiaries, and any others having a property right in or claim against a trust estate or the estate of a decedent, ward, or protected person. See Utah Code 75-1-201 v2
- Petition: means a written request to the court for an order after notice. See Utah Code 75-1-201 v2
- Property: includes both real and personal property or any interest therein and means anything that may be the subject of ownership. See Utah Code 75-1-201 v2
(2) a class gift is not but might become invalid under Section 75-2-1203 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 Section 75-2-1203 can vest but not within 1,000 years after its creation.