CHAPTER 452

An Act to amend the Code of Virginia by adding a section numbered 55-
17.1, relating to the continuance of trusts and uses. CH 304]

Approved March 31, 1962

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia be amended by adding a section numbered
25-17.1 as follows:

§ 55-17.1. No trust relating to real estate shall fail nor shall any use
relating to real estate be defeated because no beneficiaries are specified by
name in the recorded deed of conveyance to the trustee or because no duties
are imposed upon the trustee. The power conferred by any such instru-
ment on a trustee to sell, lease, encumber or otherwise dispose of property
therein described shall be effective and no person dealing with such a
trustee shall be required to make further inquiry as to the right of such
trustee to act nor shall he be required to inquire as to the disposition of
any proceeds.
Nothing in this section shall be construed (1) to affect any right
which a creditor may otherwise have against a trustee or beneficiary,
(2) to enlarge upon the power of a corporation to act as trustee under
§ 6-9 or (3) to affect the rule against perpetuities.