59-1506.
Protection of remainderman's interest in personalty; bond.
When by will the use or income of personal property is given to a person for a term of years or for life, and another person has an interest in such property as remainderman, the court, unless the will provides otherwise, may order such property to be delivered to the person having the limited estate, or to be held by the executor or some other person as trustee for the benefit of the person having the limited estate. Bond may be required of the person to whom the property is delivered or by whom it is held, in the first instance or at any time prior to the termination of the limited estate.
History:
L. 1939, ch. 180, § 117; July 1.
Notes of Decisions
Salvation Army v. Estate of Pryor (1977)
kanctapp
“Appellee failed to protect its interest when it failed to request a bond of the life tenant under the provisions of K.S.A. 59-1506. One can understand the reluctance of a charitable institution to require a benefactor to post a bond.”
In Re Estate of Jud (1985)
kan
“K.S.A. 59-1506. We have held, however, a life tenant who has the power to dispose of or consume the corpus will not be required to give security or furnish an accounting for the protection of the remaindermen in the absence of a showing of danger of loss or waste.”
Sullivan v. Grote (1972)
kan · cites it 4×
“The Court finds that it was the intention of the Probate Court to deliver said property as per the terms of the will of said decedent and in accordance with Section 59-1506, K. S. A., which limits her interest therein to a life estate, subject to her right to use the same if it…”
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