2011 Code of Virginia
Title 55 PROPERTY AND CONVEYANCES.
Chapter 31 Uniform Trust Code (55-541.01 thru 55-551.06)
55-547.07 Delivery of property by former trustee.
55-547.07. 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 and vested in any successor trustee, upon acceptance of the trusteeship, without any conveyance, transfer or assignment by the prior trustee.
(2005, c. 935.)
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