Uniform Trust Code

ORS 130.215
UTC 414. Modification or termination of uneconomic trust


(1)

After notice to the qualified beneficiaries, a trustee may terminate a trust if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration. A trustee may not terminate a trust under this section if the trustee is a qualified beneficiary of the trust or has a duty of support for a qualified beneficiary of the trust.

(2)

The court may modify or terminate a trust, or remove the trustee and appoint a different trustee, if the court finds 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. [2005 c.348 §34; 2013 c.529 §6]

Law Review Citations

42 WLR 187 (2006)

Chapter 130

Law Review Citations

42 WLR 187 (2006)


Source

Last accessed
Jun. 26, 2021