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December 18, 2024 Clouds | 48°F
The 193rd General Court of the Commonwealth of Massachusetts
  1. General Laws
  2. Part II REAL AND PERSONAL PROPERTY AND DOMESTIC RELATIONS
  3. Title II DESCENT AND DISTRIBUTION, WILLS, ESTATES OF DECEASED PERSONS AND ABSENTEES, GUARDIANSHIP, CONSERVATORSHIP AND TRUSTS
  4. Chapter 190B MASSACHUSETTS UNIFORM PROBATE CODE
  5. Article VII TRUST ADMINISTRATION
  6. Section 7-503 Resignation or removal of trustee; appointment to fill vacancy

Section 7-503

Section 7-503: Resignation or removal of trustee; appointment to fill vacancy

Section 7–503. [Resignation or Removal of Trustee; Appointment to Fill Vacancy.]

A trustee may resign by an instrument in writing delivered to the transferor or to the transferor's guardian or conservator, if any. A trustee may be removed by the transferor by an instrument in writing delivered to such trustee. If there is more than one person serving as trustee, a vacancy need not be filled, and until a successor is appointed the remaining trustee or trustees may act alone. In the event of a vacancy a successor may be appointed by the transferor, if legally competent, or as the transferor shall have provided by a written instrument, and otherwise by the transferor's guardian or conservator, if any, and if none, by the transferor's heirs presumptive, and such appointment shall become effective upon acceptance.