Chapter 58 — PERSONAL AND REAL PROPERTY

58-2341. Selling lender not subject to K.S.A. 58-2339. The selling lender is not subject to the provisions of K.S.A. 58-2339. History: L. 1988, ch. 57, § 5; July 1. Previous | Next LEGISLATIVE COORDINATING COUNCIL General Policies 2026 Archived LCC Documents Archived LCC Meetings…

58-2342. Home equity protection; terms, in writing; subject to recission, when; form; voidable, when. Any assignment or transfer of the rights of the defendant owner in relation to real property which is the subject of a pending action to foreclose one or more mortgages and which…

58-2343. Assignment of rents of real property; lien; action upon default. (a) As used in this section: (1) "Assignment instrument" means any mortgage, deed of trust, or other instrument or agreement by which a borrower assigns, transfers, pledges, or otherwise grants a lien upon …

58-2344. Authorized use of real estate values furnished to appraisers by lenders. No lender, as defined in K.S.A. 58-2337, and amendments thereto, or any person acting on behalf of a lender shall disclose to an appraiser or other person engaged to determine the appraised value of…

58-2345. Appraisal of unique rural residential real property; sales comparison approach not required; exceptions. (a) In developing an appraisal of residential real property identified as unique in style or square footage, or both, located in a rural county for the purpose of a m…

58-23a01. History: L. 1935, ch. 226, § 1; Repealed, L. 1947, ch. 335, § 1; June 30. Source or prior law: L. 1933, ch. 232, § 4; L. 1934, ch. 3, § 1. CASE ANNOTATIONS 1. Act inapplicable when a second mortgage has been foreclosed. Leach v. Roberson, 142 Kan. 687, 62 P.2d 629. 2. M…

58-23a02. History: L. 1935, ch. 226, § 2; Repealed, L. 1947, ch. 335, § 1; June 30. Source or prior law: L. 1933, ch. 232, § 1; L. 1934, ch. 3, § 2. CASE ANNOTATIONS 1. Foreclosure judgments rendered before act passed, held res judicata and unaffected by moratorium acts. Kansas C…

58-23a03. History: L. 1935, ch. 226, § 3; Repealed, L. 1947, ch. 335, § 1; June 30. Source or prior law: L. 1934, ch. 3, § 3. CASE ANNOTATIONS 1. Foreclosure judgments rendered before act passed, held res judicata and unaffected by moratorium acts. Kansas City Life Ins. Co. v. An…

58-23a06. History: L. 1935, ch. 226, § 6; Repealed, L. 1947, ch. 335, § 1; June 30. Source or prior law: L. 1934, ch. 3, § 6. CASE ANNOTATIONS 1. Mortgages to which act applies determined. Oakland State Bank v. Bolin, 141 Kan. 126, 130, 40 P.2d 437. 2. Act construed and mortgages…

58-23a07. History: L. 1935, ch. 226, § 7; Repealed, L. 1947, ch. 335, § 1; June 30. Source or prior law: L. 1934, ch. 3, § 7. CASE ANNOTATIONS 1. Foreclosure judgments rendered before act passed held res judicata and unaffected by moratorium acts. Kansas City Life Ins. Co. v. Ant…

[Repealed or reserved.]

58-2401. How trust concerning land created. No trust concerning lands except such as may arise by implication of law shall be created, unless in writing signed by the party creating the same, or by his or her attorney thereto lawfully authorized in writing. History: G.S. 1868, ch…

58-2402. Title of purchaser without notice of trust. No such trust, whether implied or created, shall defeat the title of the purchaser for a valuable consideration and without notice of the trust. History: G.S. 1868, ch. 114, § 2; October 31; R.S. 1923, 67-402. CASE ANNOTATIONS …

58-2403. Record of trust as notice. The record of such trust in the proper county shall be deemed actual notice thereof to every person claiming under a conveyance made or lien created after such recording. History: G.S. 1868, ch. 114, § 3; October 31; R.S. 1923, 67-403. CASE ANN…

58-2404. History: G.S. 1868, ch. 114, § 4; R.S. 1923, 67-404; L. 1963, ch. 327, § 1; Repealed, L. 2002, ch. 133, § 93; January 1, 2003. CASE ANNOTATIONS 1. Power of trustee to convey when cestui que trust cannot, considered. Collier v. Blake, 14 Kan. 250, 259. 2. Wife estopped to…

58-2405. History: G.S. 1868, ch. 114, § 5; R.S. 1923, 67-405; Repealed, L. 2002, ch. 133, § 93; January 1, 2003. CASE ANNOTATIONS 1. Mortgage foreclosure sale of trust property; trustee cannot acquire title for himself by purchase. Rathbun v. Hill, 187 Kan. 130, 132, 147, 354 P.2…

58-2406. Conveyance to one person when consideration paid by another. When a conveyance for a valuable consideration is made to one person and the consideration therefor paid by another, no use or trust shall result in favor of the latter; but the title shall vest in the former, …

58-2407. Effect as to creditors. Every such conveyance shall be presumed fraudulent as against the creditors of the person paying the consideration therefor; and where a fraudulent intent is not disproved, a trust shall in all cases result in favor of prior creditors to the exten…

58-2408. Cases to which K.S.A. 58-2406 shall not extend. The provisions of the section next before the last shall not extend to cases where the alienee shall have taken an absolute conveyance in his or her own name without the consent of the person with whose money the considerat…

58-2409. History: G.S. 1868, ch. 114, § 9; R.S. 1923, 67-409; Repealed, L. 2002, ch. 133, § 93; January 1, 2003. CASE ANNOTATIONS 1. Will probated; purchasers from executrix protected. Bank v. Grisham, 105 Kan. 460, 471, 185 P. 54. 2. Designated payee may sue on note although not…

58-2410. History: G.S. 1868, ch. 114, § 10; R.S. 1923, 67-410; Repealed, L. 2002, ch. 133, § 93; January 1, 2003. CASE ANNOTATIONS 1. Death of trustee; appointment of successor by district court. Collier v. Blake, 14 Kan. 250, 256, 257. 2. General jurisdiction of district courts …

58-2411. History: G.S. 1868, ch. 114, § 11; R.S. 1923, 67-411; Repealed, L. 2002, ch. 133, § 93; January 1, 2003. CASE ANNOTATIONS 1. Probate court may appoint administrator c.t.a. to execute will creating trust, when. Citizens B. & L. Ass'n v. Knox, 146 Kan. 734, 747, 74 P.2d 16…

58-2412. History: G.S. 1868, ch. 114, § 12; R.S. 1923, 67-412; Repealed, L. 2002, ch. 133, § 93; January 1, 2003. CASE ANNOTATIONS 1. Assignee of insolvent debtor is trustee of an express trust. Caldwell v. Matthewson, 57 Kan. 258, 262, 265, 45 P. 614. 2. Probate court may appoin…

58-2413. History: G.S. 1868, ch. 114, § 13; R.S. 1923, 67-413; Repealed, L. 2002, ch. 133, § 93; January 1, 2003. CASE ANNOTATIONS 1. Effect of conveyance to grantees as trustees and "their assigns." Boyer v. Sims, 61 Kan. 593, 60 P. 309; Webb v. Rockefeller, 66 Kan. 160, 163, 71…

58-2414. Grant reserving power of revocation. A grantor of lands, reserving an absolute power of revocation, shall be deemed an absolute owner as regards creditors and purchasers. History: G.S. 1868, ch. 114, § 14; October 31; R.S. 1923, 67-414. Cross References to Related Sectio…

58-2415. History: G.S. 1868, ch. 114, § 15; R.S. 1923, 67-415; Repealed, L. 2002, ch. 133, § 93; January 1, 2003. Previous | Next LEGISLATIVE COORDINATING COUNCIL General Policies 2026 Archived LCC Documents Archived LCC Meetings REVISOR OF STATUTES Archived Session Documents Arc…

58-2416. Power given to married woman. A general and beneficial power may be given to a married woman to dispose of or devise, without the concurrence of her husband, lands conveyed or devised to her in fee. History: G.S. 1868, ch. 114, § 16; October 31; R.S. 1923, 67-416. Previo…

58-2417. History: G.S. 1868, ch. 114, § 17; R.S. 1923, 67-417; Repealed, L. 2002, ch. 133, § 93; January 1, 2003. CASE ANNOTATIONS 1. Inter vivos revocable trust held contract testamentary in nature; will substitute; law governing; claim against estate enforceable. Reznik v. McKe…

58-2418. Power to grantee to sell. Where a power to sell lands or other property shall be given to the grantee in any mortgage or other conveyance intended to secure the payment of money, the power shall be deemed a part of the security, and shall vest in any person who shall bec…

58-2419. Act does not extend to simple power of attorney to convey lands. The provisions of this act relative to power shall not extend to a simple power of attorney to convey lands in the name and for the benefit of the owner. History: G.S. 1868, ch. 114, § 19; October 31; R.S. …

58-2420. History: L. 1994, ch. 269, § 5; Repealed, L. 2002, ch. 133, § 93; January 1, 2003. Previous | Next LEGISLATIVE COORDINATING COUNCIL General Policies 2026 Archived LCC Documents Archived LCC Meetings REVISOR OF STATUTES Archived Session Documents Archived School Finance D…

58-2431. Trusts for benefit of state or agency or political or governmental subdivision of state; creation; purpose; acceptance; duration. Express trusts may be created in real or personal property, or both, or in any estate or interest in either or both, with the state, or any c…

58-2432. Recording of trust instruments and acceptance; binding contract. All instruments or wills creating trusts under the provisions of this act, together with the written acceptance of the beneficial interest endorsed thereon, shall be recorded in the office of the county cle…

58-2433. Funds maintained in special account; use; use or pledging of other funds for trust purposes; lease of property necessary for execution of trust. Funds received by the beneficiary under the provisions of any trust created under the provisions of this act shall be kept and…

58-2434. Appointment, succession, powers, duties, terms and compensation of trustees. The instrument or will creating such trust may provide for the appointment, succession, powers, duties, terms and compensation of the trustee or trustees; and in all such respects the terms of s…

58-2435. Property or interest subject to taxation. Property or interests therein held under the provisions of any trust executed under the provisions of this act shall be subject to taxation in like manner as property held in private ownership. History: L. 1974, ch. 235, § 5; Jul…

58-2436. Payment of operation, maintenance and depreciation costs; fees and charges. All instruments or wills creating trusts under the provisions of this act shall permit the collection of fees and charges for the purpose of providing for the establishment of reserve funds for t…

58-2437. Trustee required to be agency of state or political or governmental subdivision; liability for acts or omissions of trustee. The trustee or trustees, under such an instrument or will shall be an agency of the state, county, municipality, political or governmental subdivi…

58-2438. Termination of trust. Any such trust may be terminated by agreement of the trustee, or if there be more than one, then all of the trustees, and the governing body of the beneficiary, with the approval of the governor of the state of Kansas if such beneficiary is an agenc…

58-24a01. Prudent investor rule. (a) Except as otherwise provided in subsection (b), a fiduciary who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule set forth in this act. (b) The prudent investor rule, a def…

58-24a02. Standard of care; portfolio strategy; risk and return objectives; trustee following written directions complies with standard of care. (a) A fiduciary shall invest and manage trust assets as a prudent investor would, by considering the purposes, terms, distribution requ…

58-24a03. Diversification. A fiduciary shall diversify the investments of the trust unless the fiduciary reasonably determines that, because of special circumstances, the purposes of the trust are better served without diversifying. History: L. 2000, ch. 80, § 3; July 1. Previous…

58-24a04. Duties at inception of fiduciary relationship. Within a reasonable time after entering into a fiduciary relationship or receiving trust assets, a fiduciary shall review the trust assets and make and implement decisions concerning the retention and disposition of assets,…

58-24a05. Loyalty. A fiduciary shall invest and manage the trust assets solely in the interest of the beneficiaries. History: L. 2000, ch. 80, § 5; July 1. Previous | Next LEGISLATIVE COORDINATING COUNCIL General Policies 2026 Archived LCC Documents Archived LCC Meetings REVISOR …

58-24a06. Impartiality. If a trust has two or more beneficiaries, the fiduciary shall act impartially in investing and managing the trust assets, taking into account any differing interests of the beneficiaries. History: L. 2000, ch. 80, § 6; July 1. Previous | Next LEGISLATIVE C…

58-24a07. Investment costs. In investing and managing trust assets, a fiduciary may only incur costs that are appropriate and reasonable in relation to the assets, the purposes of the trust and the skills of the fiduciary. History: L. 2000, ch. 80, § 7; July 1. Previous | Next LE…

58-24a08. Reviewing compliance. Compliance with the prudent investor rule is determined in light of the fact and circumstances existing at the time of a fiduciary's decision or action and not by hindsight. History: L. 2000, ch. 80, § 8; July 1. Previous | Next LEGISLATIVE COORDIN…

58-24a09. Delegation of investment and management functions. (a) A fiduciary may delegate investment and management functions that a prudent fiduciary of comparable skills could properly delegate under the circumstances. For a fiduciary to properly delegate investment functions u…

58-24a10. Language invoking standard of act. The following terms or comparable language in the provisions of a trust, unless otherwise limited or modified, authorizes any investment or strategy permitted under this act: "Investments permissible by law for investment of trust fund…

58-24a11. Application to existing trusts. This act applies to trusts existing on and created after the effective date of this act. As applied to trusts existing on the effective date of this act, this act governs only decisions or actions occurring after that date. History: L. 20…