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Oregon Revised Statutes

Or. Rev. Stat. § 130.155 (2026)

UTC 402. Requirements for creation

✓ current as of May 2026
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      130.155 UTC 402. Requirements for creation. (1) A trust is created only if all of the following requirements are met:

      (a) The settlor has capacity to create a trust.

      (b) The settlor indicates an intention to create the trust.

      (c) The trust has a definite beneficiary or is:

      (A) A charitable trust;

      (B) A trust for the care of an animal, as provided in ORS 130.185;

      (C) A trust for a noncharitable purpose, as provided in ORS 130.190; or

      (D) A stewardship trust, as provided in ORS 130.193.

      (d) The trustee has duties to perform.

      (e) The same person is not the sole trustee and sole beneficiary.

      (2) A beneficiary is definite for the purposes of subsection (1)(c) of this section if the beneficiary can be ascertained when the trust is created or at any time thereafter, subject to any applicable rule against perpetuities.

      (3) A power of a trustee to select a beneficiary from an indefinite class is valid. If the power is not exercised within a reasonable time, the power fails and the property subject to the power passes to the persons who would have taken the property had the power not been conferred. [2005 c.348 §22; 2019 c.162 §5]

Notes of Decisions
Cited in 3 cases, 2006–2012 · leading case: Welch v. Crow, 2009 OK 20 (Okla. 2009).
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Welch v. Crow, 2009 OK 20 (Okla. 2009). “Code § 59-12-02 (2009); Or.Rev.Stat. Ann. § 130.155 (2009); 20 Pa.”
Hope Presbyterian Church v. Presbyterian Church, 291 P.3d 711 (Or. 2012). “ORS 130.155(1). Here, the focus of the parties’ dispute is on the second element: whether the intent requirement was met.”
Oregon v. Roman Catholic Archbishop (In Re Roman Catholic Archbishop), 345 B.R. 686 (Bankr. D. Or. 2006). “Debtor cites ORS 130.155, Oregon's enactment of the Uniform Trust Code, as setting out the requirements for creation of a trust.”
— Or. Rev. Stat. § 130.155(1) — 1 case
Hope Presbyterian Church v. Presbyterian Church, 291 P.3d 711 (Or. 2012). “ORS 130.155(1). Here, the focus of the parties’ dispute is on the second element: whether the intent requirement was met.”
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