2000 Minnesota Code
Chapters 500 - 515B Property Interests and Liens
Chapter 501B Trusts
Section 501B.08 Appointment of and acquisition of title by successor trustees and confirmation of acts performed during vacancies in trusteeship.
501B.08 Appointment of and acquisition of title by successor trustees and confirmation of acts performed during vacancies in trusteeship.
If the terms of a trust provide for the appointment of a successor trustee and direct how the successor is to qualify, title to the trust assets vests in the successor trustee upon qualification, unless the terms of the trust expressly provide otherwise.
If the terms of a trust do not effectively provide for the appointment of a successor trustee and appointment of a successor is required, or if title to the trust assets does not vest in a successor trustee, the district court may appoint a successor trustee or vest title in a successor trustee.
The district court may confirm an act performed by a person in execution of the trust while there was no acting trustee.
HIST: 1989 c 340 art 1 s 8
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