There is a newer version
of
this Section
2019 Minnesota Statutes
Chapters 500 - 515B — Property And Property Interests
Chapter 501C — Trusts
Section 501C.0707 — Delivery Of Property By Former Trustee.
Universal Citation: MN Stat § 501C.0707 (2019)
501C.0707 DELIVERY OF PROPERTY BY FORMER TRUSTEE.
(a) Unless a cotrustee remains in office or the court otherwise orders, and until the trust property is delivered to a successor trustee or other person entitled to it, a trustee who has resigned or been removed has the duties of a trustee and the powers necessary to protect the trust property.
(b) A trustee who has resigned or been removed shall proceed expeditiously to deliver the trust property within the trustee's possession to the cotrustee, successor trustee, or other person entitled to it.
(c) Title to all trust property shall be owned by and vested in any successor trustee without any conveyance, transfer, or assignment by the prior trustee.
History: 2015 c 5 art 7 s 7
Disclaimer: These codes may not be the most recent version. Minnesota may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
