Massachusetts · statute · Mass. Gen. Laws ch. 203 · 11 active provisions
Section 1. No trust concerning land, except such as may arise or result by implication of law, shall be created or declared unless by a written instrument signed by the party creating or declaring the trust or by his attorney.
Section 2. If a trust concerning land is created or declared by such instrument, the recording of the instrument, or of a certificate conforming to the requirements of section 35 of chapter 184, in the registry of deeds or the registration office of the land court, in either case for the county or district where the la…
Section 3. No trust concerning land, whether implied by law or created or declared by the parties, shall defeat the title of a purchaser for a valuable consideration without notice of the trust, or prevent a creditor who has no notice of the trust from attaching the land or from taking it on execution as if no such tru…
Section 3A. A trust created by an employer as part of a stock bonus, pension, disability, death benefit or profit sharing plan for the benefit of some or all of his employees, to which contributions are made by the employer or employees, or both, for the purpose of distributing to the employees the earnings or the prin…
Section 4. If a testator has omitted in his will to appoint a trustee in this commonwealth and such appointment is necessary to carry into effect the provisions of the will, the probate court may, after notice to all persons interested, appoint a trustee who shall have the same powers, rights and duties and the same ti…
Section 4A. The following words as used in this section and section four B shall, unless the context otherwise requires, have the following meanings:— ''Customer''—any resident of this commonwealth, who engages in trust business with, or enters into discussions or correspondence creating a trust business relationship w…
Section 4B. Prior to the execution by a customer of any document creating a fiduciary relationship, the fiduciary, if on notice of the customer's intent to execute such document, shall furnish to the customer a written or printed statement which is clear and understandable and applicable to the type of fiduciary busine…
Section 14B. (a) Unless expressly limited by the governing instrument, a fiduciary, as defined in paragraph (b), shall have the powers specified in paragraph (c) with respect to securities held by the fiduciary in a fiduciary capacity. This power shall be in addition to all other powers which such fiduciary shall have…
Section 40. If a debtor residing in the commonwealth has made an assignment to a trustee for the benefit of his creditors, the acts of the trustee thereunder in protecting and caring for the property and converting it into money, if done in good faith and with reasonable judgment and discretion, shall, subject to the f…
Section 41. The preceding section shall not apply to the acts of such trustee unless the assignment conveys all the property and estate of the debtor wherever situated, either within or without the commonwealth, not exempt from attachment by the laws thereof, and provides for its distribution in substantial conformity…
Section 42. If, upon petition or otherwise, the probate court for the county where letters testamentary or of administration have been granted on the estate of a deceased person finds that such person in his lifetime made a conveyance of real estate in the commonwealth in trust for the benefit of his creditors, and the…