Utah Code 75-2-1206.5. Savings provision
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A property interest that becomes invalid pursuant to Section
(1) If the property interest is payable to one person, it shall be distributed to that person. If the property interest is payable to more than one person, it shall be distributed to the persons to whom the property interest is then payable:
Terms Used In Utah Code 75-2-1206.5
- Person: means an individual or an organization. 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
- Trustee: A person or institution holding and administering property in trust.
- Trustee: includes an original, additional, and successor trustee, and cotrustee, whether or not appointed or confirmed by the court. See Utah Code 75-1-201 v2
(1)(a) in the shares to which the persons are entitled; or
(1)(b) equally among all persons who are entitled to shares if not specified.
(2) If the property interest is payable in the discretion of a trustee and is payable to one person, it shall be distributed to that person. If the property interest is payable to more than one person, it shall be distributed to the persons eligible to receive it:
(2)(a) in the shares to which the persons are entitled; or
(2)(b) equally among all persons who are entitled to shares if not specified.
(3) When there is no person then living to whom a property interest may be distributed under Subsection (1) or (2) , it shall be payable to one or more organizations described in 26 U.S.C. § 2055(a) Internal Revenue Code, or successor provisions and in the shares or proportions that the trustee or trustees then acting may determine.