Laws of New York (Last Updated: November 21, 2014) |
EPT Estates, Powers and Trusts |
Article 7. TRUSTS |
Part 1. RULES GOVERNING TRUSTS |
Section 7-1.1. When trust interests not to merge
Latest version.
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A trust is not merged or invalid because a person, including but not limited to the creator of the trust, is or may become the sole trustee and the sole holder of the present beneficial interest therein, provided that one or more other persons hold a beneficial interest therein, whether such interest be vested or contingent, present or future, and whether created by express provision of the instrument or as a result of reversion to the creator's estate.