North Dakota § 59-12-14 (414) Modification or termination of uneconomic trust

North Dakota Statutes

§ 59-12-14 — (414) Modification or termination of uneconomic trust

North Dakota § 59-12-14

Title 59Trusts, Uses, and Powers

Ch. 59-12Creation, Validity, Modification, and Termination of Trust

This text of North Dakota § 59-12-14 ((414) Modification or termination of uneconomic trust) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 59-12-14 (2026).

Text

1.After notice to the qualified beneficiaries, the trustee of a trust consisting of trust property having a total value less than one hundred thousand dollars may terminate the trust if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration.

2.The court may modify or terminate a trust or remove the trustee and appoint a different trustee if the court determines that the value of the trust property is insufficient to justify the cost of administration.

3.Upon termination of a trust under this section, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust.

4.This section does not apply to an easement for conservation or preservation.

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1. After notice to the qualified beneficiaries, the trustee of a trust consisting of trust
property having a total value less than one hundred thousand dollars may terminate
the trust if the trustee concludes that the value of the trust property is insufficient to
justify the cost of administration.
2. The court may modify or terminate a trust or remove the trustee and appoint a different
trustee if the court determines that the value of the trust property is insufficient to justify
the cost of administration.
3. Upon termination of a trust under this section, the trustee shall distribute the trust
property in a manner consistent with the purposes of the trust.
4. This section does not apply to an easement for conservation or preservation.