456.003. Absence of active duties not to curtail powers of trustee. - Missouri Statutes

Absence of active duties not to curtail powers of trustee.

456.003. When the terms of an instrument creating a trust manifestintention that the trustee shall have the legal fee simple in land, thefull legal ownership of an estate for years, or the absolute legalownership of chattels personal, investment securities or choses in action,an exercise by the trustee or a successor trustee of an express or impliedpower of sale, mortgage, leasing, improvement or conducting any othertransaction incident to the administration of the trust, shall bind the feesimple, term of years or absolute ownership notwithstanding the executionof a future interest under the trust into a legal estate or interest by theoperation of the Statute of Uses, or former section 456.003, or a judicialdoctrine imposing such execution on dry or passive trusts.

(RSMo 1939 § 3493, A.L. 1983 H.B. 117, A.L. 2004 H.B. 1511)

Prior revisions: 1929 § 3103; 1919 § 2262; 1909 § 2867

*Transferred 2004; formerly 456.020