|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ch. 687
|
|
2000 LAWS OF MARYLAND
|
|
|
|
|
|
|
|
|
|
Annotated Code of Maryland
(1996 Replacement Volume and 1999 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Real Property
2-122.
(a) (1) In this section, "trust" means an express inter vivos or testamentary
trust.
(2) "Trust" includes the following instruments or funding arrangements
in the nature of a trust:
(i) A profit sharing plan;
(ii) A retirement plan;
(iii) A liquidating or liquidation plan; and
(iv) An unincorporated foundation.
(3) "Trust" does not include:
(i) A real estate investment trust as defined in § 8-101 of the
Corporations and Associations Article; [or]
(II) A BUSINESS TRUST AS DEFINED IN § 12-101(C) OF THE
CORPORATIONS AND ASSOCIATIONS ARTICLE; OR
[(ii)] (III) A trust, formed under the law of another state or a foreign
country, that authorizes a trust to take, hold, and dispose of title to property in the
name of the trust.
(b) (1) A grant of property by deed to a grantee designated in the deed as a
trust has the same effect as if the grantor had granted the property to the trustee or
trustees appointed and acting for the trust on the effective date of the deed.
(2) A grant of property by deed to a grantee designated in the deed as an
estate of a decedent, including the estate of a nonresident decedent, has the same
effect as if the grantor had granted the property to;
(i) The personal representative or personal representatives
appointed by a register of wills or orphans' court in the State for the estate and acting
as the personal representative on the effective date of the deed; or
(ii) A foreign personal representative exercising the powers of the
office for the estate of a nonresident decedent on the effective date of the deed.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 2000.
|
|
|
|
|
|
|
|
|
|
Approved May 18, 2000.
|
|
|
|
|
|
|
|
|
- 3520 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
