Maryland Code, ESTATES AND TRUSTS 14.5-403
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Terms Used In Maryland Code, ESTATES AND TRUSTS 14.5-403
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Trustee: A person or institution holding and administering property in trust.
A trust not created by will is validly created if the creation of the trust complies with:
(1) The law of the jurisdiction in which the trust instrument was executed; or
(2) The law of the jurisdiction in which, at the time of creation:
(i) The settlor was domiciled or was a national;
(ii) A trustee of the trust was domiciled or had a place of business; or
(iii) Any trust property was located.