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58-2414. Grant reserving power of revocation. A grantor of lands, reserving an absolute power of revocation, shall be deemed an absolute owner as regards creditors and purchasers.

History: G.S. 1868, ch. 114, ยง 14; October 31; R.S. 1923, 67-414.

Cross References to Related Sections:

Transfer-on-death, see 59-3506.

Law Review and Bar Journal References:

Validity of revocable trusts, 11 K.L.R. 375, 376 (1963).

1963-65 survey of future interests and estate planning, James K. Logan, 14 K.L.R. 293, 304 (1965).

"Professional Liability Insurance: Implication of Termination," Wayne T. Stratton, 77 J.K.M.S. 255, 259 (1976).

"Revocable Trusts," Alson R. Martin and Nancy Schmidt Roush, 51 J.K.B.A. 8, 10 (1982).

CASE ANNOTATIONS

1. Trust reserving income to settlor with power to revoke valid except as to creditors and statutory rights of surviving spouse. Ackers v. First National Bank of Topeka, 192 K. 319, 320, 323, 325, 387 P.2d 840. Rehearing denied: 192 K. 471, 389 P.2d 1.


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