uniform trust code - Kansas Judicial Branch
uniform trust code - Kansas Judicial Branch
uniform trust code - Kansas Judicial Branch
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obtaining consents. Also, a nonjudicial settlement may include only terms and conditions a court<br />
could properly approve.<br />
The Uniform Trust Code does not prescribe the rules of construction to be applied to <strong>trust</strong>s<br />
created under the Code. The Code instead recognizes that enacting jurisdictions are likely to take<br />
a diversity of approaches, just as they have with respect to the rules of construction applicable to<br />
wills. Section 112 accommodates this variation by providing that the State’s specific rules on<br />
construction of wills, whatever they may be, also apply to the construction of <strong>trust</strong>s.<br />
SECTION 101. SHORT TITLE. This [Act] may be cited as the <strong>Kansas</strong> Uniform Trust<br />
Code.<br />
<strong>Kansas</strong> Comment<br />
This section is new.<br />
SECTION 102. SCOPE. This [Code] applies to express <strong>trust</strong>s, charitable or noncharitable,<br />
and <strong>trust</strong>s created pursuant to a statute, judgment, or decree that requires the <strong>trust</strong> to be administered<br />
in the manner of an express <strong>trust</strong>.<br />
<strong>Kansas</strong> Comment<br />
This section is new.<br />
UTC Comment<br />
The Uniform Trust Code, while comprehensive, applies only to express <strong>trust</strong>s. Excluded<br />
from the Code’s coverage are resulting and constructive <strong>trust</strong>s, which are not express <strong>trust</strong>s but<br />
remedial devices imposed by law. For the requirements for creating an express <strong>trust</strong> and the<br />
methods by which express <strong>trust</strong>s are created, see Sections 401-402. The Code does not attempt to<br />
distinguish express <strong>trust</strong>s from other legal relationships with respect to property, such as agencies<br />
and contracts for the benefit of third parties. For the distinctions, see Restatement (Third) of Trusts<br />
§§ 2, 5 (Tentative Draft No. 1, approved 1996); Restatement (Second) of Trusts §§ 2, 5-16C (1959).<br />
The Uniform Trust Code, while comprehensive, applies only to express <strong>trust</strong>s. Excluded<br />
from the Code’s coverage are resulting and constructive <strong>trust</strong>s, which are not express <strong>trust</strong>s but<br />
remedial devices imposed by law. For the requirements for creating an express <strong>trust</strong> and the<br />
methods by which express <strong>trust</strong>s are created, see Sections 401-402. The Code does not attempt to<br />
distinguish express <strong>trust</strong>s from other legal relationships with respect to property, such as agencies<br />
and contracts for the benefit of third parties. For the distinctions, see Restatement (Third) of Trusts<br />
§§ 2, 5 (Tentative Draft No. 1, approved 1996); Restatement (Second) of Trusts §§ 2, 5-16C (1959).<br />
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