termination of the trust, and may transfer or devise such property, subject to the execution of the trust. NOTE.-Corse vs. Leggett, 25 Barb., p. 395. Title of grantor of 865. The grantee or devisee of real property subject to a trust acquires a legal estate in the property, trust as against all persons except the Trustees and those lawfully claiming under them. 866. property. remaining Where an express trust is created in relation Interests to real property, every estate not embraced in the in grantor trust, and not otherwise disposed of, is left in the author trust." of the trust or his successors. of express over trust 867. The beneficiary of a trust for the receipt of Powers the rents and profits of real property cannot transfer of party or in any manner dispose of his interest in such trust. NOTE.-Belmont vs. O'Brien, 12 N. Y., p. 402. interested. 868. The beneficiary of a trust for the payment of Same. an annuity out of the rents and profits of real property, or of a sum in gross, can dispose of his interest in such trust. Анг NOTE.-Founded upon Revised Statutes of New York, Section 63, modified, so as to adopt the construction given to this section of the Revised Statutes in Hawley vs. James, 16 Wend., pp. 61, 275 (decree, Section 4), and followed in Lang vs. Ropke, 5 Sandf., p. 371; Griffen vs. Ford, 1 Bosw., p. 143. To the contrary, see McSorley vs. Wilson, 4 Sandf. Ch., p. 524; Clute vs. Bool, 8 Paige, p. 86. 869. Where an express trust is created in relation to real property, but is not contained or declared in the grant to the Trustee, such grant must be deemed absolute in favor of the subsequent creditors of the Trustees, not having notice of the trust, and in favor of purchasers from such Trustees without notice, and for a valuable consideration. NOTE.-Davis vs. Graves, 29 Barb., p. 480. Certain sales, etc., by Trustees, void. When estate of Trustee to A cease. 870. Where a trust in relation to real property is expressed in the instrument creating the estate every transfer or other act of the Trustees, in contravention of the trust, is absolutely void. NOTE.-Belmont vs. O'Brien, 12 N. Y., p. 394-405; Briggs vs. Davis, 20 N. Y., p. 21; 21 N. Y., p. 577. This rule applies to purchasers in good faith, as well as to any others. 871. When the purpose for which an express trust was created ceases, the estate of the Trustee also 881. Terms "author of a power" and "holder of a power" defined. 882. Division of powers. 883. Definition of general powers. 884. Definition of special powers. 885. Beneficial powers. 886. Powers in trust. 887. General powers, when in trust. 888. Special powers, when in trust. 889. Who may create power. 890. To whom power may be given. 891. How created. 892. Reservation of powers in conveyances. 893. When power irrevocable. 894. When power a lien. 895. Power of sale in mortgage. 896. Who to execute powers. 897. Married women. 898. Same. 899. How executed. 900. Execution by survivors. 901. Execution of power to dispose by devise. SECTION 904. Same. 905. Nominal conditions. 906. When directions of author to be observed. 907. Consent of third person to execution of power. 909. Omission to recite power. 910. Instruments deemed conveyances. 911. Certain dispositions not void. 912. Computation of term of suspension 914. Married women, their authority. 915. Defective execution. 916. Fraud. 917. General and beneficial powers to married women. 918. Estate of owner for life, etc., when changed into a fee. 919. Certain powers create a fee. 920. Same. 921. Effect of power to devise inheritance in certain cases. 923. Power to revoke. 924. Special and beneficial powers, who may take. 925. Construction of leasing powers. 926. Power to make leases by owner for life. 927. Release of such power. 928. Mortgages by party having power to lease, etc. 929. Effect thereof. 930. Special and beneficial powers liable to creditors. 931. Future beneficial powers. 932. Trust powers imperative. 933. Effect of right of selection. 934. Construction of certain powers. 935. Same. 936. When Court to execute power. 937. Same. 938. Execution of trust power when compelled by creditors, etc. 939. Defective execution. 940. Application of certain sections. 878. Powers, in relation to real property, are those What only which are specified in this Title. 879. The provisions of this Title do not extend to a simple power of attorney to convey real property in the name of the owner and for his benefit. 880. A power, as the term is used in this Title, is powers exist ApplicaTitle." tion of this Definition of a power. Terms and a power" an authority to do some act in relation to real property, or to the creation or revocation of an estate therein, or a charge thereon, which the owner granting or reserving such power might himself perform for any purpose. Reh 881. NOTE.-Selden vs. Vermilya, 3 N. Y., p. 536; Downing vs. Marshall, 23 N. Y., p. 377; Belmont vs. O'Brien, 12 N. Y., p. 404. The author of a power, as the term is used in this Title, is the person by whom a power is created, holder of whether by grant or devise; and the hoider of a power defined. Division of powers. Definition of general powers. Definition of special powers. Beneficial powers. is the person in whom a power is vested, whether by grant, devise, or reservation. риб NOTE.-Barber vs. Cary, 11 N. Y., p. 401. 882. Powers are general or special, and beneficial or in trust. 883. A power is general when it authorizes the alienation or incumbrance of a fee in the property embraced therein by grant, will, or charge, or any of them, in favor of any person whatever. NOTE.-Tallmadge vs. Sill, 21 Barb., p. 51. 884. A power is special: 1. When a person or class of persons is designated to whom the disposition of property under the power is to be made; or, 2. When it authorizes the alienation or incumbrance, by means of a grant, will, or charge of only an estate less than a fee. NOTE.-Wright vs. Tallmadge, 15 N. Y., p. 313. 885. A power is beneficial when no person other than its holder has, by the terms of its creation, any interest in its execution. NOTE.-Coster vs. Lorillard, 14 Wend., p. 325; Barber vs. Cary, 11 N. Y., p. 402. 886. trust. A power is in trust when any person or class Powers in of persons, other than its holder, has, by the terms of its creation, an interest in its execution. NOTE.-Coster vs. Lorillard, 14 Wend., p. 329. powers, trust. 887. A general power is in trust when any person General or class of persons, other than its holder, is designated when in. as entitled to the proceeds of the disposition or charge authorized by the power, or to any portion of the proceeds or other benefits to result from its execution. NOTE.-Coster vs. Lorillard, 14 Wend., p. 329. 888. A special power is in trust: Special powers, 1. When the disposition or charge which it authorizes is limited to be made to any person or class of when in persons, other than the holder of the power; or, 2. When any person or class of persons, other than the holder, is designated as entitled to any benefit from the disposition or charge authorized by the power. 1889. NOTE.-Wright vs. Tallmadge, 15 N. Y., p. 325; 889. No person is capable of creating a power who trust. who may create is not at the same time capable of granting some power. estate in the property to which the power relates. NOTE.-Dempsey vs. Tylee, 3 Duer, p. 97. 890. A power may be vested in any person., 891. A power may be created only: To whom pow power may created. 1. By a suitable clause, contained in a grant of some How estate in the real property to which the power relates, or in an agreement to execute such a grant; or, 2. By a devise contained in a will. NOTE.-Power is a grant.-Selden vs. Vermilya, 3 N. Y., p. 536. The last clause in Subdivision 1 is founded upon the equitable doctrine that a thing agreed |