Sara Goldman Curley and Andrew Golden publish “The Massachusetts Uniform Trust Code and the real estate practitioner” in REBAnewsPrint PDF
Sara Goldman Curley and Andrew M. Golden, members of the Trusts and Estates Department, published “The Massachusetts Uniform Trust Code and the real estate practitioner” in the March 2014 edition of REBAnews. The article discusses key provisions of the Massachusetts Uniform Trust Code (MUTC), an understanding of which will prove essential to real estate professionals faced with matters involving trusts. Most provisions of the MUTC are default rules that an attorney may draft around in the trust instrument and, as has always been the case, real estate professionals must first look to the trust.
Sara and Andrew note that importantly, several provisions may not be modified by the terms of the trust, including the power of the court to modify or terminate the trust in accordance with relevant provisions of the MUTC, and the effect of a spendthrift provision and the rights of certain creditors and assignees to reach trust property.