Kentucky Revised Statutes Title XXXIII. Administration of Trusts and Estates of Persons Under Disability § 386A.6-010.Beneficial interest

(1) A beneficial interest in a statutory trust is personal property regardless of the nature of the property of the trust.

(2) A beneficial interest in a statutory trust is not an interest in specific property of the statutory trust.

(3) A beneficial interest in a statutory trust is freely transferable.

(4) Any limitations upon transfer of a beneficial interest set forth in the governing instrument shall be void if the same person is the sole trustee and sole beneficial owner.

(5) A beneficial owner does not have a preemptive right to subscribe to any additional issue of beneficial interests or any other interest of a statutory trust.