30-3863. (UTC 707) Delivery of property by former trustee.
112 words·~1 min read·
/ne/chapter-30/30-3863A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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.