75B-1-103. Death of trustee -- Trust estate vests in successor.
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Effective 9/1/2024
75B-1-103. Death of trustee -- Trust estate vests in successor.
Upon the death of a sole or surviving trustee of an express trust:
(1)the trust estate does not descend to the trustee's heirs or pass to the trustee's personal representatives; and
(2)the trust estate immediately vests in the successor trustee upon the appointment and qualification of a successor trustee.
Renumbered and Amended by Chapter 364 , 2024 General Session