Pennsylvania § 7765 Resignation of trustee; filing resignation

Pennsylvania Statutes

§ 7765 — Resignation of trustee; filing resignation

Pennsylvania·Title 20 DECEDENTS, ESTATES AND FIDUCIARIES·Ch. 77 TRUSTS·Subch. OFFICE OF TRUSTEE

(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 o

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(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.

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Legislative History

(July 8, 2016, P.L.497, No.79, eff. Jan. 1, 2017; July 15, 2024, P.L.786, No.64, eff. 90 days) 2024 Amendment.Act 64 amended subsec. (a.1)(2). See section 11 of Act 64 in the appendix to this title for special provisions relating to Uniform Trust Code. 2016 Amendment.Act 79 added subsec. (a.1) and deleted subsecs. (a), (b) and (c). CrossReferences.Section 7765 is referred to in section 7780.27 of this title.