Statutes, codes, and regulations
Michigan Compiled Laws
Chapter 555 - USES AND TRUSTS
OF USES AND TRUSTS
Section 555.13 - Rents and profits; liability of surplus to claims of creditors of beneficiary

Mich. Comp. Laws § 555.13

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Current through Public Act 156 of the 2024 Legislative Session
Section 555.13 - Rents and profits; liability of surplus to claims of creditors of beneficiary

When a trust is created to receive the rents and profits of 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.

MCL 555.13

R.S. 1846, Ch. 63 ;--CL 1857, 2643 ;--CL 1871, 4126 ;--How. 5575 ;--CL 1897, 8841 ;--CL 1915, 11577 ;--CL 1929, 12979 ;--CL 1948, 555.13.