Laws of New York (Last Updated: November 21, 2014) |
EPT Estates, Powers and Trusts |
Article 9. PERPETUITIES AND ACCUMULATIONS |
Part 1. PERPETUITIES |
Section 9-1.4. Acquisition of real property by foreign trust
Latest version.
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Where real property situated in this state is acquired by a trust validly created under the law of another jurisdiction, whether there is a violation of the rule against perpetuities and whether a direction for the accumulation of rents and profits is valid are determined by the law of this state in effect at the time of the acquisition of such property.