Md. Code, Est. & Trusts § 14.5-504
Md. Code, Est. & Trusts § 14.5-504
Maryland · Maryland Code, Estates and Trusts · Status: effective
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- Citation
- Md. Code, Est. & Trusts § 14.5-504, Maryland, version 1 as recorded 2026-09-29, yourstate.us, https://yourstate.us/provision/1771124
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Full text
(a) A spendthrift provision is valid and enforceable.
(b) A provision of a trust providing that the interest of a beneficiary is held subject to a “spendthrift trust”, or words of similar import, restrains both voluntary and involuntary transfer of the beneficiary’s interest.
(c) A beneficial interest that is subject to a spendthrift provision may not be judicially foreclosed or attached by a creditor.
(d) (1) A beneficiary may not transfer an interest in a trust in violation of a valid spendthrift provision and, except as otherwise provided in this subtitle, a creditor or an assignee of the beneficiary may not reach the interest or a distribution by the trustee before the receipt by the beneficiary of the interest or distribution.
(2) An attempt by a beneficiary to transfer an interest in a trust in violation of a valid spendthrift provision shall be void and of no effect.
(e) (1) The use, occupancy, and enjoyment of a single parcel of residential real property, as designated by the trustee, and tangible personal property by a beneficiary whose interest is subject to a spendthrift provision may not be transferred.
(2) The use, occupancy, and enjoyment described in paragraph (1) of this subsection are not subject to the enforcement of a judgment against the beneficiary.