|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PARRIS N. GLENDENING, Governor
|
|
Ch. 603
|
|
|
|
|
|
|
|
|
|
|
(I) IF THE BENEFICIARY IS A MINOR THE BENEFICIARY'S
NATURAL OR LEGAL GUARDIAN; OR
(II) IF THE BENEFICIARY IS A DISABLED PERSON, AS DEFINED IN §
13-101 OF THIS ARTICLE. ANY PERSON ACTING ON BEHALF OF THE BENEFICIARY
UNDER A GUARDIANSHIP, CONSERVATORSHIP, OR COMMITTEE.
(A) (B) A TRUSTEE MAY DONATE A CONSERVATION EASEMENT ON ANY REAL
PROPERTY, OR CONSENT TO THE DONATION OF A CONSERVATION EASEMENT ON ANY
REAL PROPERTY BY A PERSONAL REPRESENTATIVE OF AN ESTATE OF WHICH THE
TRUSTEE IS A LEGATEE, IN ORDER TO OBTAIN THE BENEFIT OF THE ESTATE TAX
EXCLUSION ALLOWED UNDER § 2031(C) OF THE UNITED STATES INTERNAL REVENUE
CODE OF 1986, AS AMENDED, IF:
(1) THE GOVERNING INSTRUMENT DIRECTS THE DONATION OF A
CONSERVATION EASEMENT ON THE REAL PROPERTY; OR
(2) EACH PERSON IN BEING BENEFICIARY WHO HAS AN INTEREST IN
THE REAL PROPERTY THAT WOULD BE AFFECTED BY THE CONSERVATION
EASEMENT CONSENTS IN WRITING TO THE DONATION.
(B) A TRUSTEE THAT ACTS IN GOOD FAITH MAY NOT BE HELD LIABLE CIVILLY
FOR A DECREASE IN THE VALUE OF THE REAL PROPERTY AS A RESULT OF A
DONATION OF A CONSERVATION EASEMENT UNDER THIS SECTION.
15-102.
(a) (1) In this section. "fiduciary" means IN THIS SECTION THE FOLLOWING
WORDS HAVE THE MEANINGS INDICATED.
(2) (I) "BENEFICIARY' MEANS AN ASCERTAINABLE PERSON WHO HAS
A PRESENT OR FUTURE INTEREST IN A TRUST ESTATE.
(II) "BENEFICIARY" INCLUDES:
1. IF THE BENEFICIARY IS A MINOR THE BENEFICIARY'S
NATURAL OR LEGAL GUARDIAN; OR
2. IF THE BENEFICIARY IS A DISABLED PERSON, AS DEFINED
IN § 13-101 OF THIS ARTICLE, ANY PERSON ACTING ON BEHALF OF THE BENEFICIARY
UNDER A GUARDIANSHIP, CONSERVATORSHIP, OR COMMITTEE.
(3) (I) "FIDUCIARY" MEANS a trustee acting under a deed, will,
declaration of trust or other instrument in the nature of a trust or appointed by a
court, a committee or guardian of the property of a minor or a disabled person,
whether the trust or estate be created or the appointment made prior or subsequent
to the effective date of this subtitle.
(2) (II) "Fiduciary" does not include a receiver, trustee of a trust for the
benefit of creditors, executor, administrator, or personal representative.
(b) (1) A fiduciary may perform the functions and duties enumerated in this
section without application to, approval of, or ratification by a court.
|
|
|
|
|
|
|
|
- 3195 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|