TITLE 2. certain re mainders. 4 Kent Com., 224. mous chil dren. 2 Barb.,248. Id. 2 Barb.,248. Expectant estates not to be de dent estate, it shall be construed as intended to take effect, only on the death of the first taker, or the expiration, by lapse of time, of such term of years. § 30. Where a future estate shall be limited to heirs or issue, or children, posthumous children shall be entitled to take, in the same manner as if living at the death of their parents. § 31. A future estate depending on the contingency of the death of any person without heirs or issue, or children, shall be defeated by the birth of a posthumous child of such person, capable of taking by descent. § 32. No expectant estate can be defeated or barred by any alienation, or other act of the owner of the intermediate or precedent 41 N. Y., 78; estate, nor by any destruction of such precedent estate by disseisin, 15. forfeiture, surrender, merger or otherwise. feated, &c. 148; 28 Hun, 603; 41 Hun, 130; 100 N. Y., 310. When to be Lans., 275; § 33. The last preceding section shall not be construed to prevent an expectant estate from being defeated in any manner, or by any act or means, which the party creating such estate shall, in the creaC.R. (T&tion thereof, have provided for or authorized; nor shall an expectant C.), 6024 estate thus liable to be defeated, be on that ground adjudged void in 10 Hun, 328. its creation. 6 N. Y. S. Hun, 408; Remain ders not to in certain cases. § 34. No remainder, valid in its creation, shall be defeated by the be defeated determination of the precedent estate, before the happening of the contingency on which the remainder is limited to take effect; but should such contingency afterwards happen, the remainder shall take effect, in the same manner and to the same extent, as if the precedent estate had continued to the same period. 418; 4 Abb. Ct. App. Dec., 224; 59 N. Y., 119; 73 N. Y., 230; 100 N. Y., 310. Qualities of § 35. Expectant estates are descendible, devisable and alienable, expectant in the same manner as estates in possession. estates. 6 N Y. S. C. R. (T. & C.), 556; 49 Barb., 54; 12 N. Y., 133; 31 Barb., 562; 7 Paige, 76; 45 Barb., 469; 59 Barbour, 84; 8 Bosw., 480; 2 Abb. Ct. App. Dec., 182; 4 id., 226; 3 Hun, 519; 4 Hun, 408; 15 W. D., 148; 40 Hun, 357, 450; 41 Hun, 477; 96 N. Y., 213; 97 N. Y., 449; 84 N. Y., 257. Future pro fits of lands. [726] 17 N. Y., Accumula § 36. Dispositions of the rents and profits of lands, to accrue and be received at any time subsequent to the execution of the instrument creating such disposition, shall be governed by the rules established in this article, in relation to future estates in lands. 3 Barb. Ch., 92; 5 Paige, 480; 4 Paige, 328; 2 Sandf. Ch., 474. § 37. An accumulation of rents and profits of real estate, for the tion of pro- benefit of one or more persons, may be directed by any will or deed, 1. If such accumulation be directed to commence on the creation of the estate, out of which the rents and profits are to arise, it must 442; 45 N. be made for the benefit of one or more minors then in being, and Y., 44543 terminate at the expiration of their minority; Sandf. S.C., .N. Y., 374; 35 N. Y., 620; 5 4 N. Y. S. 2. If such accumulation be directed to commence at any time Lans., 167; subsequent to the creation of the estate out of which the rents and C. R. (T. & profits are to arise, it shall commence within the time in this article NY, 566; permitted for the vesting of future estates and during the minority 561; 1 of the persons for whose benefit it is directed, and shall terminate at 3 Dem.,126; the expiration of such minority. C.), 82; 64 Dem., 404; 26 Hun, 89; 28 Hun, 615; 29 Hun, 20, 28; 92 N. Y., 508; 95 N. Y.. 13, 403; 107 N. Y., 549. ART. 2. rections, § 38. If, in either of the cases mentioned in the last section, the direction for such accumulation shall be for a longer term than dur- Other diing the minority of the persons intended to be benefited thereby, when void it shall be void as respects the time beyond such minority. all directions for the accumulation of the rents and profits of real wholly estate, except such as are herein allowed, shall be void. And in part. When tions, void. 2 Barb.Ch., 518; 17 Barb., 25; 4 Sandf. S. C., 442; 8 Paige, 480; 44 Barb., 576; 35 N. Y., 370, 620; 4 N. Y. S. C. R. (T. & C.), 82; 8 Abb. N. C., 102; 8 Daily, 454; 28 Hun, 615; 29 Hun, 20; 92 N. Y., 508; 95 N. Y., 15; 107 N. Y., 549. § 39. Where such rents and profits are directed to be accumu- Applicalated for the benefit of infants entitled to the expectant estate, and profits,&c., such infants shall be destitute of other sufficient means of support &c., of inand education, the chancellor, upon the application of their guardian, may direct a suitable sum out of such rents and profits to applied to their maintenance and education. to support, fants. Paige, be 136; 35 N. Y., 370; 1 Dem., 404; 2 Dem., 67. entitled to land. 40. When in consequence of a valid limitation of an expectant In certain estate, there shall be a suspense of the power of alienation or of the cases, who ownership, during the continuance of which, the rents and profits profits of shall be undisposed of, and no valid direction for their accumulation 24 N. Y., 9, is given, such rents and profits shall belong to the persons pre- 428; 5 sumptively entitled to the next eventual estate. 372; 23 N. Y., 83; 15 N. Y., 324; 28 Barb., 143; 17 Barb., 84; 2 Barb. Ch., 518; 43 N. Y, 19; 1 Hun, when § 41. The delivery of the grant, where an expectant estate is Expectant created by grant; and where it is created by devise, the death of estates, the testator, shall be deemed the time of the creation of the estate. deemed created. 3 Barb., 387; 5 Sandf., 363; 8 Bosw., 475; 29 N. Y., 39, 71. pectant estates abolished. § 42. All expectant estates, except such as are enumerated and Certain exdefined in this article, are abolished. § 43. Estates, in respect to the number and connection of their Estates in owners, are divided into estates in severalty, in joint tenancy and in severalty, common; the nature and properties of which respectively, shall tenaney continue to be such as are now established by law, except so far as the same may be modified by the provisions of this chapter. joint and in common. 9 Abb. Pr. R., N. S., 446. [727] in com mon, what § 44. Every estate granted or devised to two or more persons, in their own right, shall be a tenancy in common, unless expressly What to be declared to be in joint tenancy; but every estate, vested in executors or trustees as such, shall be held by them in joint tenancy. tenancy. This section shall apply as well to estates already created or vested, 9 Abb. Pr. as to estates hereafter to be granted or devised. in joint R., N. S., 446; 5 N. Y. S. C. R. Y., 39, 72; 282; 15 Abb. 92 N. Y., (T. & C.), 569; 3 Hun, 519; 4 Hun, 289; 27 Barb., 272; 5 Johns. Ch. R., 431; 29 N. 1 Hun, 390; 20 Hun, 382; 6 T. & C., 551; 70 N. Y.. 615; 76 N. Y., 262; 12 Abb. N. C., N. C., 127; 28 Hun, 451; 37 Hun, 18; 42 Hun, 585; 43 Hun, 502; 88 N. Y., 92, 469; 152, 157, 446, 539. [1 R. L., 54, §§ 6 and 7.] ARTICLE SECOND. OF USES AND TRUSTS. SEC. 45. Uses and rusts, not herein authorized, abolished; estates in land, legal rights. 46. Existing executed uses, confirmed as legal estates. 47. Persons entitled to possession of lands, declared the legal owners thereof. 48. Last section not to affect active trusts. 49. No estate granted for the use of another, to vest in the trustees. 50. Previous sections not to apply to resulting or implied or express trusts. 51. Grant to one, for consideration paid by another, vests title in grantee. 52. But trust to result in favor of creditors of person paying consideration. TITLE 2. SEC. 53. Preceding 51st section not to extend to certain cases. Certain uses and 54. Purchasers in good faith, not to be affected by implied trusts, etc.. 56. Certain devises in trust, to be deemed powers. 57. In certain cases, profits of land liable to creditors. 58. Express trusts not before authorized, to be powers in trust. 59. In such case, land to remain in and descend to persons entitled. 62. Estates, etc., not included in express trust, to remain in grantor. 65. Sales, etc., contrary to the trust expressed in instrument, void. 66. Misapplication of money received by trustees, not to affect others. 68. Disposition of trust, etc., on death of surviving trustee. 69. When and how trustee may resign. 70. When and how trustee may be removed. 71. Appointment of trustees in place of those resigning or removed, etc. 45. Uses and trusts, except as authorised and modified in this trusts abol- article, are abolished; and every estate and interest in lands, shall be deemed a legal right, cognizable as such in the courts of law, except when otherwise provided in this chapter. ished. Executed uses, existing. 6 Barb.,484; 3 Hun, 467; 35 N. Y., 86; 8 Bosw., 192; 2 Robt., 131; 7 id., 105; 5 N. Y. S. C. R. (T. & C.), 600; 52 N. Y., 332; 3 Hun, 464; id., 473; 59 N. Y., 434; 9 Hun, 175; 15 N. Y., 477; 12 N. Y., 403; 29 Barb., 657; 27 Barb., 272; 17 Barb., 105; 11 Barb., 407; 9 Barb., 340; 6 Barb., 484; 4 Denio, 442; 3 Sandf. S. C., 360; 24 Wend., 661; 18 How. Pr. R., 132; 31 N. Y., 18; 47 Barb., 259; 44 Barb., 576; 43 N. Y., 496; 52 N. Y., 332, 338; 37 N. Y., 76; 30 N. Y., 193; 16 J. & S., 70; 36 Hun, 253; 40 Hun, 91; 98 N. Y., 35, 300; 99 N. Y., 451; 26 Hun, 253. § 46. Every estate which is now held as an use, executed under any former statute of this state, is confirmed as a legal estate. 4 Denio, 385; 10 Hun, 328. Right to possession § 47. Every person, who, by virtue of any grant, assignment or of land cre- devise, now is, or hereafter shall be entitled to the actual possession ates legal ownership. of lands, and the receipt of the rents and profits thereof, in law or in equity, shall be deemed to have a legal estate therein, of the same quality and duration, and subject to the same conditions, as his beneficial interest. Active trusts not last section. 44 N. Y., 258; 43 N. Y., 496; 49 Barb., 134; 23 N. Y., 377; 10 N. Y., 271; 9 N. Y., 403; 7 N. Y., 570; 5 N. Y., 460; 3 N. Y., 535; 30 Barb., 320; 13 Barb., 92; 9 Barb., 519; 6 Barb., 484; 5 Barb., 190; 1 Barb., 33; 1 Barb. Ch., 20, 220; 2 Hill, 574, 491; 7 Paige, 534, 185-193; 4 Paige, 404; 2 Sandf. Ch, 296; 21 Wend., 147; 17 Johns. R., 350; 14 Wend., 190; 30 N. Y., 193; 47 Barb., 547; 7 Robt., 108; 1 Bosw., 141; id., 186, 191; 36 Hun, 15; 24 Hun, 430; 25 Hun, 596; 105 N. Y., 415. [1 R. L., 72, §§ 1, 2 and 3.] § 48. The last preceding section shall not divest the estate of any affected by trustees, in any existing trust, where the title of such trustees, is not merely nominal, but is connected with some power of actual disposition or management, in relation to the lands which are the subject of the trust. [728] 6 Barb., 481; 4 Paige, 352; 4 Denio, 399; 7 Paige, 182; 44 N. Y., 258; 8 Bosw., 186, 191; 56 N. Y., 220; 55 How. Pr. estate for use of an other, take § 49. Every disposition of lands, whether by deed or devise hereafter made, shall be directly to the person in whom the right to the no interest. possession and profits, shall be intended to be invested, and not to any other, to the use of, or in trust for, such person; and if made to Y.,570,5 N. one or more persons, to the use of, or in trust for, another, no estate Y., 460; 3 N. or interest, legal or equitable, shall vest in the trustee. 23 N. Y.. Y., 535; 26 Barb., 239, 479; 6 Barb., 98; 1 Denio, 57; 9 Barb, 516; 30 N. Y., 193; 41 Barb., 69; 36 Barb., 44; 43 N. Y. 496; 4 Hun, 289; 49 Barb., 134; 1 Bosw., 141; 8 Bosw., 186, 191; 7 Robt., 108; 6 T. & C., 551; 70 N. Y.,615; 16 Abb. N. C.. 23, note; 105 N. Y., 415. [1 R. L., 72, §§ 1, 2 and 3.] § 50. The preceding sections in this article shall not extend to ART. 2. trusts arising, or resulting by implication of law, nor be construed Preceding to prevent or affect the creation of such express trusts, as are herein- qualified. after authorized and defined. sections 7 N. Y., 570; 2 N. Y, 373; S.C., 524; 45 407; 4 T. & N. C., 13. Grant to one for 9 Barb., 589; 4 Denio, 439; 16 Johns. R., 197; 5 Johns. Ch. R., 1; 3 Paige, 390; 4 Sandf. N. Y., 596; 58 Barb., 262; 2 Robt., 131; 1 Hun, 499; 52 N. Y., 251; 57 N. Y, 545; 5 Hun, C., 342; 17 J. & S., 317; 14 Abb. § 51. Where a grant for a valuable consideration shall be made to one person, and the consideration therefor shall be paid by another, money paid by no use or trust shall result in favor of the person by whom such another, payment shall be made; but the title shall vest in the person named result. as the alienee in such conveyance, subject only to the provisions of the next section. 52 N. Y., 251, 260; 48 N. Y., 218; 46 N. Y., 16; 59 Barb.. 638; 7 Bosw., 491; 39 N. Y., 73; [1 R. L., 74, § 4.] no trust to benefit of § 52. Every such conveyance shall be presumed fraudulent, as Except for against the creditors, at that time, of the person paying the con- creditors, sideration; and where a fraudulent intent is not disproved, a trust &c. shall result in favor of such creditors, to the extent that may be necessary to satisfy their just demands. [The same.] 22 N. Y., 566; 15 N. Y., 478; 10 N. Y., 271; 31 Barb., 394; 29 Barb., 484; 12 Barb., 653; con qualified. 52 N. Y., N. Y., 596; § 53. The provisions of the preceding fifty-first section shall not Section 51 extend to cases, where the alienee named in the conveyance, shall have taken the same as an absolute conveyance, in his own name, without the consent or knowledge of the person paying the sideration, or where such alienee, in violation of some trust, have purchased the lands so conveyed, with monies belonging another person. [The same.] 251, 261 45 29 N. Y shall N. Y., 515; 11 Barb,, 107 598, 610; 18 to Barb., 376; 17 Barb., 103; 47 Barb., 544; 39 Barb., 622; 80 N. Y., 538; 103 N. Y., 307. protected. $54. No implied or resulting trust shall be alleged or established, Purchasers to defeat or prejudice the title of a purchaser, for a valuable con- 22 N. Y., sideration, and without notice of such trust. 566; 29 § 55. Express trusts may be created, for any or either of the fol- For what lowing purposes: 1. To sell lands for the benefit of creditors; 2. To sell, mortgage or lease lands, for the benefit of legatees, or for the purpose of satisfying any charge thereon; 3. 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 first article of this title; 4. To receive the rents and profits of lands, and to accumulate. the same, for the purposes and within the limits prescribed in the first article of this act. [Thus amended by L. 1830, ch. 320, § 10.] 23 N. Y.; 377; 17 N. Y., 567; 12 N. Y., 403; 7 N. Y., 257; 6 N. Y., 578; 5 N. Y., 413, 557; purposes express trusts may be created. [729] TITLE 2. trust, to be deemed powers. 473; 9 Barb., 340, 585; 5 Barb., 101, 144, 444, 613; 3 Barb. Ch., 92; 2 Barb. Ch., 517; 3 Hill, 101; 5 Denio, 651; 4 Denio, 389; 1 Denio, 57; 7 Paige, 234, 275; 5 Paige, 220, 461; 22 Wend., 486; 14 Wend., 265; 11 Wend., 240; 2 Edw., 91; 4 Sandf Ch., 414; 5 Sandf. S. C., 363; 3 Sandf. S. C., 502; 3 Abb., 403; 13 How. Pr. R., 157; 8 How. Pr. R., 389; 2 Duer, 59; 34 N. Y., 340, 555; 26 N. Y., 41; 47 Barb., 259, 618; 41 Barb., 69; 6 T. & C., 551; 70 N. Y., 615; 4 Hun, 80; 64 N. Y, 332; 10 N. Y., 141; 39 N. Y., 73; 29 id., 613; 22 N. Y., 566; 43 N. Y., 106, 496, 52 N. Y., 332, 338; 45 N. Y., 444; 4 Lans., 234; 72 N. Y., 376; 78 N. Y., 244; 18 Hun, 362; 19 Hun, 209; 80 N. Y., 15; 32 Hun, 87; 13 Abb. N. C., 91; 85 N. Y., 53; 96 N. Y., 75; 97 N. Y., 26, 420; 98 N. Y., 35; 101 N. Y., 504; 104 N. Y., 325; 105 N. Y., 185; 44 Hun, 239. Certain de- § 56. A devise of lands to executors or other trustees, to be sold vises in or mortgaged, where the trustees are not also empowered to receive the rents and profits, shall vest no estate in the trustees; but the trust shall be valid as a power, and the lands shall descend to the heirs, or pass to the devisees of the testator, subject to the execution. of the power. 6 N. Y. S. C.) 555; 18 N. Y., 107; 2 Barb.,537; 364, 370; 53 253; 27 Hun, 225, 235; 97 Hun, 240; Profits of land liable in certain cases. 2 Edw., 559; 2 Hill, 569; 8 Bosw., 172; 39 How. Pr. R., 106; 41 N. Y., 293; 43 N. Y., § 57. Where a trust is created to receive the rents and profits of to creditors lands, and no valid direction for accumulation is given, the surplus of such rents and profits, beyond the sum that may be necessary for the education and support of the person for whose benefit the trust is created, shall be liable, in equity, to the claims of the creditors of such person, in the same manner as other personal property, which cannot be reached by an execution at law. 6 N. Y., 578; 18 Barb., 469; 1 Barb, Ch. 36; 8 Paige, 85; 5 id., 586; 2 Edw., 379; 236; 36 Other ex press trusts, to be powers in trust. And land, &c., to descend to persons entitled. 53 N. Y., 351: 49 express trusts to have whole 3 Sandf. S. C., 541; 14 N. Y., 41; 11 Paige, 140; 8 Bosw., 92; 6 Robt., 534; 34 Hun, § 58. Where an express trust shall be created, for any purpose not enumerated in the preceding sections, no estate shall vest in the trustees; but the trust, if directing or authorising the performance of any act which may be lawfully performed under a power, shall be valid as a power in trust, subject to the provisions in relation to such powers, contained in the third article of this title. 12 N. Y., 404; 7 N. Y., 570; 23 Barb., 499; 9 Barb., 519; 1 Barb., 58; 9 Paige, 116; 8 Paige, 120; 3 Sandf. Ch., 554; 8 Wend., 661; 18 Wend., 257; 22 Wend., 483;. 30 N. Y., 191; 36 Barb., 44; 59 Barb., 78; 52 Barb., 316; 47 Barb., 614; 43 N. Y., 364, 370; 21 N. Y., 292; 35 N. Y., 87; 29 N. Y., 39, 87; 24 N. Y., 9-15; 70 N. Y., 615; 9 Hun, 175; 1 Lans., 366; 4 Lans. 238; 8 Bosw., 192; 6 T. & C., 551; 72 N. Y., 556; 28 Hun, 603; 36 Hun, 14; 98 N. Y., 38; 104 N. Y., 325. § 59. In every case where the trust shall be valid as a power, the lands to which the trust relates, shall remain in, or descend to the persons otherwise entitled, subject to the execution of the trust as a power. Barb., 132; 47 id., 614 ; 4 Lans., 238; 8 Bosw., 192; 30 N. Y., 174, 191; 4 Hun, 290; 98 N. Y., 38; 104 N. Y., 325. Trustees of § 60. Every express trust, valid, as such, in its creation, except as herein otherwise provided, shall vest the whole estate in the trustees, in law and in equity, subject only to the execution of the The persons for whose benefit the trust is created, shall take no estate or interest in the lands, but may enforce the performance of the trust in equity. estate. Last sec. tion qualifiled. 32 N. Y., 319, 331; 24 N. Y., 9-15; 1 Bosw., 150; 65 Barb., 557; 59 Barb., 78; 56 Barb., 608; 70 N. Y., 81; 68 N. Y., 227; 52 Barb., 316; 1 N. Y. S. C. R. (T. & C.), 125 ; 21 N. Y., 576; 17 N. Y., 567; 10 N. Y., 271; 9 N. Y., 413; 6N. Y., 578; 3 N. Y., 535; 31 Barb., 336; 25 Barb., 395; 2 Barb., 601; 1 Barb. Ch., 36; 2 Edw., 559; 7 How., Pr. R., 349; 4 E. D. Smith, 134; 3 Sandf. S. C., 531; 53 N. Y., 359, 503; 46 N. Y., 168, 576; 27 Hun, 155; 28 Hun, 573, 629; 36 Hun, 368; 37 Hun, 21; 41 Hun, 552; 88 N. Y., 153, 357; 97 N. Y., 421, 433, 446; 104 N. Y., 45. § 61. The preceding section shall not prevent any person creating a trust, from declaring to whom the lands to which the trust relates, 168, 576; 21 shall belong, in the event of the failure or termination of the trust; 46 N. Y., |