Effective - 28 Aug 2004
456.003. Absence of active duties not to curtail powers of trustee. — When the terms of an instrument creating a trust manifest intention that the trustee shall have the legal fee simple in land, the full legal ownership of an estate for years, or the absolute legal ownership of chattels personal, investment securities or choses in action, an exercise by the trustee or a successor trustee of an express or implied power of sale, mortgage, leasing, improvement or conducting any other transaction incident to the administration of the trust, shall bind the fee simple, term of years or absolute ownership notwithstanding the execution of a future interest under the trust into a legal estate or interest by the operation of the Statute of Uses, or former section 456.003, or a judicial doctrine imposing such execution on dry or passive trusts.
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(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