§558-2 - Purpose.
[§558-2] Purpose. The purpose of this
chapter is to authorize those trusts which incorporate it by reference to
convey legal and equitable title to real estate in trust to a qualified
trustee; to define the nature and extent of the beneficiaries' interest in the
trust property; to define the obligations of persons dealing with the trustee
to inquire into the trustee's authority; and to provide for disclosure of the
identity and interest of the trust beneficiaries. [L 1978, c 151, pt of §1]