Public-domain · open source
OpenJurist

20 Pa.C.S. § 7765

Resignation of trustee; filing resignation

Known as the Probate, Estates and Fiduciaries Code

The act spans §§ 20–20 (744 sections).

(July 8, 2016, P.L.497, No.79, eff

(a) Court approval.--(Deleted by amendment).

(a.1) General rule.--A trustee may resign:

(1) with court approval;

(2) without court approval if authorized to resign by the terms of the trust; or

(3) pursuant to a nonjudicial settlement agreement described in section 7710.1 (relating to nonjudicial settlement agreements - UTC 111).

(b) Without court approval if authorized by trust instrument.--(Deleted by amendment).

(c) Without court approval and without authorization in trust instrument.--(Deleted by amendment).

(d) Liability.--The resignation of a trustee shall not by itself relieve the resigning trustee of liability in connection with the administration of the trust.

(e) Filing resignation.--A resignation of a trustee may be filed with the clerk of the court having jurisdiction over the trust.

Official source: Pennsylvania General Assembly. Reproduced from public-domain Pennsylvania statutes; confirm against the official source for the current text. Not legal advice.