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Michigan Compiled Laws, Chapter 554. Real and Personal Property § 554.93

Current as of January 01, 2025 | Updated by Findlaw Staff

Sec. 3. (1) Except as provided in section 2,  1 an interest in, or power of appointment over, personal property held in trust is not invalidated by a rule against any of the following:

(a) Perpetuities.

(b) Suspension of absolute ownership.

(c) Suspension of the power of alienation.

(d) Accumulations of income.

(2) Except as provided in section 2, all of the following may be indefinitely suspended, postponed, or allowed to go on with respect to personal property held in trust:

(a) The vesting of a future interest.

(b) The satisfaction of a condition precedent to the exercise of a general power of appointment.

(c) The exercise of a nongeneral or testamentary power of appointment.

(d) Absolute ownership.

(e) The power of alienation.

(f) Accumulations of income.

1 M.C.L.A. § 554.92.
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Cite this article: FindLaw.com - Michigan Compiled Laws, Chapter 554. Real and Personal Property § 554.93 - last updated January 01, 2025 | https://codes.findlaw.com/mi/chapter-554-real-and-personal-property/mi-comp-laws-554-93/

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