§ 554.91 Short title
§ 554.92 Vesting of future interests; timing; exceptions; definitions
§ 554.93 Interests in personal property held in trust; application of rules
§ 554.94 Applicability of act to certain personal property; scope of trust

Terms Used In Michigan Laws > Chapter 554 > Act 148 of 2008 - Personal Property Trust Perpetuities Act

  • Donee: The recipient of a gift.
  • Fiduciary: A trustee, executor, or administrator.
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Trustee: A person or institution holding and administering property in trust.