MCL 555.11 Express Trust; Purpose of Creation

• Library: Michigan Statutes
• Edition: 2023
• Currency: Current through Public Act 321 of the 2023 Legislative Session
• Year: 2023
• Citation: MCL 555.11

Express trusts may be created for any or either of the following purposes:

First. To sell lands for the benefit of creditors:

Second. To sell, mortgage or lease lands, for the benefit of legatees, or for the purpose of satisfying any charge thereon:

Third. To receive the rents and profits of lands, and apply them to the use of any person, during the life of such person, or for any shorter term, subject to the rules prescribed in the last preceding chapter:

Fourth. To receive the rents and profits of lands, and to accumulate the same for the benefit of any married woman, or for either of the purposes, and within the limits prescribed in the preceding chapter: