MCL - Section 555.19

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Chapter 555
R.S. of 1846
R-S-1846-555-1-63
R-S-1846-555-1-63-USES-AND-TRUSTS.
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Revised Statutes of 1846 (EXCERPT)
USES AND TRUSTS.


555.19 Express trust; assignability of interest of beneficiary.

Sec. 19.

     No person beneficially interested in a trust for the receipt of the rents and profits of lands, can assign or in any manner dispose of such interest; but the rights and interest of every person for whose benefit a trust for the payment of a sum in gross is created, are assignable.


History: R.S. 1846, Ch. 63 ;-- CL 1857, 2649 ;-- CL 1871, 4132 ;-- How. 5581 ;-- CL 1897, 8847 ;-- CL 1915, 11583 ;-- CL 1929, 12985 ;-- CL 1948, 555.19