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Terms Used In Maryland Code, ESTATES AND TRUSTS 14.5-1006

  • Statute: A law passed by a legislature.
(a) Except as otherwise provided in this title:

(1) This title applies to all trusts created before, on, or after January 1, 2015;

(2) This title applies to all judicial proceedings concerning trusts commenced on or after January 1, 2015;

(3) This title does not apply to judicial proceedings concerning trusts commenced before January 1, 2015;

(4) A rule of construction or presumption provided in this title applies to trust instruments executed before January 1, 2015, unless there is a clear indication of a contrary intent in the terms of the trust; and

(5) An act done before January 1, 2015, is not affected by this title.

(b) If a right is acquired, extinguished, or barred on the expiration of a prescribed period that has commenced to run under another statute before January 1, 2015, that statute continues to apply to the right even if the statute has been repealed or superseded.