Sec. 45a-487o. No retained interest of transferor.
121 words·~1 min read·
/ct/title-45a/chapter-802c-trusts/45a-487o·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A qualified disposition shall be subject to sections 45a-487j to 45a-487s , inclusive, notwithstanding a transferor's retention of any of the powers and rights described in section 45a-487n and the transferor's service as investment director or advisor pursuant to section 45a-487 l . The transferor shall have only such powers and rights as are conferred by the trust instrument. Except as provided in the trust instrument, and permitted by section 45a-487 l and in section 45a-487n , a transferor has no rights or authority with respect to the property that is the subject of a qualified disposition or the income therefrom, and any agreement or understanding purporting to grant or permit the retention of any greater rights or authority is void.