Home Table of Contents

§ 14.5-503. Beneficial interests or trust property subject to support provisions

West's Annotated Code of MarylandEstates and TrustsEffective: January 1, 2015

West's Annotated Code of Maryland
Estates and Trusts (Refs & Annos)
Title 14.5. Maryland Trust Act (Refs & Annos)
Subtitle 5. Creditor's Claims; Spendthrift and Discretionary Trusts (Refs & Annos)
Effective: January 1, 2015
MD Code, Estates and Trusts, § 14.5-503
§ 14.5-503. Beneficial interests or trust property subject to support provisions
Currentness
In general
(a) Except as provided in §§ 14.5-505 and 14.5-506(b) of this subtitle:
(1) A beneficial interest that is subject to a support provision may not be judicially foreclosed, attached by a creditor, or transferred by the beneficiary; and
(2) Trust property that is subject to a support provision is not subject to the enforcement of a judgment until income or principal or both is distributed directly to the beneficiary.
Use, occupancy, and enjoyment of single parcel of residential real property or tangible personal property
(b)(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 support provision may not be transferred by the beneficiary of the use, occupancy, or enjoyment.
(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.

Credits

Added by Acts 2014, c. 585, § 1, eff. Jan. 1, 2015.
MD Code, Estates and Trusts, § 14.5-503, MD EST & TRST § 14.5-503
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document