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Del. Code tit. 12, § 3571

Retained interests of transferor

Known as the Qualified Dispositions in Trust Act

The act spans §§ 12–12 (7 sections).

71 Del

A qualified disposition shall be subject to § 3572 of this title notwithstanding a transferor’s retention of any or all of the powers and rights described in § 3570(11)b. of this title and the transferor’s service as investment adviser pursuant to § 3570(8)d. of this title. The transferor shall have only such powers and rights as are conferred by the trust instrument. Except as permitted by §§ 3570(8)d. and 3570(11)b. of this title, a transferor shall have no rights or authority with respect to the property that is the subject of a qualified disposition or the income therefrom, and any agreement or understanding purporting to grant or permit the retention of any greater rights or authority shall be void.

Official source: Delaware Code Online. Reproduced from public-domain Delaware statutes; confirm against the official source for the current text. Not legal advice.