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2021 Nebraska Revised Statutes
Chapter 30 - Decedents' Estates; Protection of Persons and Property
30-3863 - (UTC 707) Delivery of property by former trustee.
Universal Citation: NE Code § 30-3863 (2021)
30-3863. (UTC 707) Delivery of property by former trustee.
(UTC 707) (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.
Source
- Laws 2003, LB 130, ยง 63.
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