Section 7-1.9. Revocation of trusts  


Latest version.
  • (a)  Upon  the  written  consent, acknowledged or proved in the manner
      required by the laws of this state for the recording of a conveyance  of
      real  property, of all the persons beneficially interested in a trust of
      property, heretofore or hereafter created, the creater of such trust may
      revoke or amend the whole or  any  part  thereof  by  an  instrument  in
      writing  acknowledged or proved in like manner, and thereupon the estate
      of the trustees ceases with respect to any part of such trust  property,
      the  disposition  of  which has been revoked. If the conveyance or other
      instrument creating a trust of property was recorded in  the  office  of
      the  clerk  or  register  of  any  county  of this state, the instrument
      revoking or amending such trust, together  with  the  consents  thereto,
      shall  be  recorded  in  the  same  office  of every county in which the
      conveyance or other instrument creating such trust was recorded.
        (b) For the purposes of this section, a disposition,  contained  in  a
      trust  created  on or after September first, nineteen hundred fifty-one,
      in favor of a class of persons described only as the heirs, next of  kin
      or  distributees  (or  by any term of like import) of the creator of the
      trust does not create a beneficial interest in such persons.
        (c) A testamentary or lifetime trust wholly benefitting  one  or  more
      charitable   beneficiaries   may   be  terminated  as  provided  for  by
      subparagraph two of paragraph (c) of section 8-1.1 of this chapter.