58-2432. Same; trust instruments and acceptance, recording; binding contract. All instruments or wills creating trusts under the provisions of this act, together with the written acceptance of the beneficial interest endorsed thereon, shall be recorded in the office of the county clerk of each county wherein is situated any real estate, or any interest therein, belonging to said trust, as well as in the county wherein is located the trust property or wherein is conducted its principal operations. Upon the acceptance of the beneficial interest by the beneficiary as hereinabove authorized and provided, the same shall be and constitute a binding contract between the state of Kansas or counties, municipalities, political or governmental subdivisions and the grantor or grantors, or the executor of the estate of the testator, for the acceptance of the beneficial interest in the trust property by the designated beneficiary and the application of the proceeds of the trust property and its operation for the purposes, and in accordance with the stipulations specified by the trustor or trustors.
History: L. 1974, ch. 235, ยง 2; July 1.
Structure Kansas Statutes
Chapter 58 - Personal And Real Property
Article 24 - Trusts And Powers
58-2401 How trust concerning land created.
58-2402 Title of purchaser without notice of trust.
58-2403 Record of trust as notice.
58-2406 Conveyance to one person when consideration paid by another.
58-2407 Same; effect as to creditors.
58-2408 Same; cases to which 58-2406 shall not extend.
58-2414 Grant reserving power of revocation.
58-2416 Power given to married woman.
58-2418 Power to grantee to sell.
58-2419 Act does not extend to simple power of attorney to convey lands.
58-2432 Same; trust instruments and acceptance, recording; binding contract.
58-2434 Same; appointment, succession, powers, duties, terms and compensation of trustees.
58-2435 Same; property or interest subject to taxation.
58-2436 Same; payment of operation, maintenance and depreciation costs; fees and charges.