Code of Virginia § 64.2-728. Modification or termination of trust; proceedings for approval or disapproval.
120 words·~1 min read·
/va/title-64-2/chapter-7/64-2-728A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. In addition to the methods of termination prescribed by §§ 64.2-729 through 64.2-732 , a trust terminates to the extent the trust is revoked or expires pursuant to its terms, no purpose of the trust remains to be achieved, or the purposes of the trust have become unlawful, contrary to public policy, or impossible to achieve.
B. A proceeding to approve or disapprove a proposed modification or termination under §§ 64.2-729 through 64.2-734 , or trust combination or division under § 64.2-735 , may be commenced by a trustee or beneficiary. The settlor of a charitable trust may maintain a proceeding to modify the trust under § 64.2-731 .
2005, c. 935 , § 55-544.10; 2012, c. 614 .