PART 2. CREATION, VALIDITY, MODIFICATION, AND TERMINATION OF TRUSTS [15200. - 15414.]

Part 2 enacted by Stats. 1990, Ch. 79.

§§ 15200–15414 · 40 sections

1. CHAPTER 1. Creation and Validity of Trusts §§ 15200–15212 · 13 sections

   • § 15200 Subject to other provisions of this chapter, a trust may be created by any of the following methods: (a) A declaration by the owner of property that the owner…
   • § 15201 A trust is created only if the settlor properly manifests an intention to create a trust.
   • § 15202 A trust is created only if there is trust property.
   • § 15203 A trust may be created for any purpose that is not illegal or against public policy.
   • § 15204 A trust created for an indefinite or general purpose is not invalid for that reason if it can be determined with reasonable certainty that a particular use of…
   • § 15205 (a) A trust, other than a charitable trust, is created only if there is a beneficiary. (b) The requirement of subdivision (a) is satisfied if the trust…
   • § 15206 A trust in relation to real property is not valid unless evidenced by one of the following methods: (a) By a written instrument signed by the trustee, or by…
   • § 15207 (a) The existence and terms of an oral trust of personal property may be established only by clear and convincing evidence. (b) The oral declaration of the…
   • § 15208 Consideration is not required to create a trust, but a promise to create a trust in the future is enforceable only if the requirements for an enforceable…
   • § 15209 If a trust provides for one or more successor beneficiaries after the death of the settlor, the trust is not invalid, merged, or terminated in either of the…
   • § 15210 A trust created pursuant to this chapter which relates to real property may be recorded in the office of the county recorder in the county where all or a…
   • § 15211 A trust for a noncharitable corporation or unincorporated society or for a lawful noncharitable purpose may be performed by the trustee for only 21 years,…
   • § 15212 (a) Subject to the requirements of this section, a trust for the care of an animal is a trust for a lawful noncharitable purpose. Unless expressly provided in…
2. CHAPTER 2. Restrictions on Voluntary and Involuntary Transfers §§ 15300–15309 · 12 sections

   • § 15300 Except as provided in Sections 15304 to 15307, inclusive, if the trust instrument provides that a beneficiary’s interest in income is not subject to voluntary…
   • § 15301 (a) Except as provided in subdivision (b) and in Sections 15304 to 15307, inclusive, if the trust instrument provides that a beneficiary’s interest in…
   • § 15302 Except as provided in Sections 15304 to 15307, inclusive, if the trust instrument provides that the trustee shall pay income or principal or both for the…
   • § 15303 (a) If the trust instrument provides that the trustee shall pay to or for the benefit of a beneficiary so much of the income or principal or both as the…
   • § 15304 (a) If the settlor is a beneficiary of a trust created by the settlor and the settlor’s interest is subject to a provision restraining the voluntary or…
   • § 15305 (a) As used in this section, “support judgment” means a money judgment for support of the trust beneficiary’s spouse or former spouse or minor child. (b) If…
   • § 15305.5 (a) As used in this section, “restitution judgment” means a judgment awarding restitution for the commission of a felony or a money judgment for damages…
   • § 15306 (a) Notwithstanding any provision in the trust instrument, if a statute of this state makes the beneficiary liable for reimbursement of this state or a local…
   • § 15306.5 (a) Notwithstanding a restraint on transfer of the beneficiary’s interest in the trust under Section 15300 or 15301, and subject to the limitations of this…
   • § 15307 Notwithstanding a restraint on transfer of a beneficiary’s interest in the trust under Section 15300 or 15301, any amount to which the beneficiary is entitled…
   • § 15308 Any order entered by a court under Section 15305, 15306, 15306.5, or 15307 is subject to modification upon petition of an interested person filed in the court…
   • § 15309 A disclaimer or renunciation by a beneficiary of all or part of his or her interest under a trust shall not be considered a transfer under Section 15300 or…
3. CHAPTER 3. Modification and Termination of Trusts §§ 15400–15414 · 15 sections

   • § 15400 Unless a trust is expressly made irrevocable by the trust instrument, the trust is revocable by the settlor. This section applies only where the settlor is…
   • § 15401 (a) A trust that is revocable by the settlor or any other person may be revoked in whole or in part by any of the following methods: (1) By compliance with any…
   • § 15402 Unless the trust instrument provides otherwise, if a trust is revocable by the settlor, the settlor may modify the trust by the procedure for revocation.
   • § 15403 (a) Except as provided in subdivision (b), if all beneficiaries of an irrevocable trust consent, they may petition the court for modification or termination of…
   • § 15404 (a) A trust may be modified or terminated by the written consent of the settlor and all beneficiaries without court approval of the modification or…
   • § 15405 For the purposes of Sections 15403 and 15404, the consent of a beneficiary who lacks legal capacity, including a minor, or who is an unascertained or unborn…
   • § 15406 In determining the class of beneficiaries whose consent is necessary to modify or terminate a trust pursuant to Section 15403 or 15404, the presumption of…
   • § 15407 (a) A trust terminates when any of the following occurs: (1) The term of the trust expires. (2) The trust purpose is fulfilled. (3) The trust purpose becomes…
   • § 15408 (a) On petition by a trustee or beneficiary, if the court determines that the fair market value of the principal of a trust has become so low in relation to…
   • § 15409 (a) On petition by a trustee or beneficiary, the court may modify the administrative or dispositive provisions of the trust or terminate the trust if, owing to…
   • § 15410 At the termination of a trust, the trust property shall be disposed of as follows: (a) In the case of a trust that is revoked by the settlor, the trust…
   • § 15411 If the terms of two or more trusts are substantially similar, on petition by a trustee or beneficiary, the court, for good cause shown, may combine the trusts…
   • § 15412 On petition by a trustee or beneficiary, the court, for good cause shown, may divide a trust into two or more separate trusts, if the court determines that…
   • § 15413 A trust provision, express or implied, that the trust may not be terminated is ineffective insofar as it purports to be applicable after the expiration of the…
   • § 15414 Notwithstanding any other provision in this chapter, if a trust continues in existence after the expiration of the longer of the periods provided by the…