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Delaware Statutes, Title 12

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Delaware/Statutes

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Title 12, Decedents’ Estates and Fiduciary Relations

35 chapters · 741 sections in this title.

All chapters in Title 12741 Ch 11, ESCHEATS85 Ch 35, TRUSTS71 Ch 38, TREATMENT OF DELAWARE STATUTORY TRUSTS50 Ch 33, Administrative Provisions44 Ch 15, LETTERS TESTAMENTARY AND LETTERS OF …41 Ch 39, GUARDIANSHIP41 Ch 23, ACCOUNTING AND DISTRIBUTION38 Ch 61, DELAWARE UNIFORM PRINCIPAL AND INCOM…38 Ch 49a, DURABLE PERSONAL POWERS OF ATTORNEY ACT36 Ch 2, GENERAL PROVISIONS34 Ch 45, Delaware Uniform Transfers to Minors Act23 Ch 27, Sale of Lands by Executors and Admin…19 Ch 6, Disclaimer17 Ch 39a, Uniform Adult Guardianship and Prote…16

71 sections·Filtered byTitle 12✕Ch 35✕

12 Del. C. § 3501. Appointment authorized; effect of execution of power by appointee.
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§ 3501. Appointment authorized; effect of execution of power by appointee. When any person or persons or any of such persons as may be the donee or donees of any power or powers under any trust are out of the jurisdiction of or not amenable to the process of the Court of Chancery…
12 Del. C. § 3502. Procedure for appointment of trustee.
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§ 3502. Procedure for appointment of trustee. The Court of Chancery may make any appointment or direction under § 3501 of this title, by an order made in any cause pending in that Court or upon petition of 1 or more of those interested in the trust or by the remaining or survivin…
12 Del. C. § 3503. Appointment of trustee to convey realty; effect of conveyance by appointee.
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§ 3503. Appointment of trustee to convey realty; effect of conveyance by appointee. When any person seised of lands, tenements or hereditaments upon any trust is out of the jurisdiction of or not amenable to the process of the Court of Chancery or is mentally ill or it is uncerta…
12 Del. C. § 3504. Appointment of trustee to assign term of years; effect of assignment by appointee.

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§ 3504. Appointment of trustee to assign term of years; effect of assignment by appointee. When any person possessed of lands, tenements or hereditaments for a term of years upon trust is out of the jurisdiction or not amenable to the process of the Court of Chancery or it is unc…

12 Del. C. § 3505. Appointment of trustee to transfer stock or collect and pay over dividends; effect of appointee’s acts.

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§ 3505. Appointment of trustee to transfer stock or collect and pay over dividends; effect of appointee’s acts. When any person in whose name as trustee or executor (either alone or together with the name of any other person) or in the name of whose testator (whether as trustee o…

12 Del. C. § 3506. Appointment of trustee to convey, assign or transfer trust property from discharged or removed trustee to successor.

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§ 3506. Appointment of trustee to convey, assign or transfer trust property from discharged or removed trustee to successor. When any person who, having been discharged or removed from any trust by an order or decree of the Court of Chancery, neglects or refuses to convey, assign…

12 Del. C. § 3507. Order of appointment.

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§ 3507. Order of appointment. The Court of Chancery shall make any appointment or direction under §§ 3503-3506 of this title by an order made in any case pending in that Court or upon petition of the person entitled to such conveyance, assignment, transfer or payment. When the ti…

12 Del. C. § 3508. Appointment of fiduciary to receive benefits payable by the United States.

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§ 3508. Appointment of fiduciary to receive benefits payable by the United States. (a) Whenever any military or administrative body or agency of the government of the United States of America is authorized or directed to pay monetary benefits to any person and the said body or ag…

12 Del. C. § 3509. Vesting of title to trust property in successor trustee.

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§ 3509. Vesting of title to trust property in successor trustee. Whenever the sole or surviving trustee dies or is removed or a trustee renounces a trust or a trust is created and no person is appointed by name or description to execute the same and whenever in such or any case a…

12 Del. C. § 3510. Vesting of title to trust realty in successor trustee appointed pursuant to trust instrument; deed of appointment.

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§ 3510. Vesting of title to trust realty in successor trustee appointed pursuant to trust instrument; deed of appointment. Whenever any trust of real estate has been or shall hereafter be created by deed or will duly recorded or proved within this State and such deed or will cont…

12 Del. C. § 3521. Trustees’ accounts in general.

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§ 3521. Trustees’ accounts in general. Except as otherwise provided in §§ 3522-3524 of this title, trustees (which term, as used in this subchapter, includes successor trustees) shall not be required to file any accounts or inventories with respect to a trust. Trustees required, …

12 Del. C. § 3522. Trustees’ accounts for inter vivos trusts.

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§ 3522. Trustees’ accounts for inter vivos trusts. Trustees of an inter vivos trust (whether or not property was bequeathed or devised to such trust by a testamentary disposition) shall not be required to file any accounts or inventories with respect to such trust, except: (1) To…

12 Del. C. § 3523. Trustees’ accounts in wills probated prior to April 5, 1909.

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§ 3523. Trustees’ accounts in wills probated prior to April 5, 1909. Trustees named in wills probated prior to April 5, 1909, may file and submit accounts of their trusts at such times as they deem necessary and they shall be required to file and submit accounts only upon a rule …

12 Del. C. § 3524. Trustees’ accounts for other testamentary trusts [For application of this section, see 80 Del. Laws, c. 153, § 5].

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§ 3524. Trustees’ accounts for other testamentary trusts [For application of this section, see 80 Del. Laws, c. 153, § 5]. (a) Trustees of a testamentary trust shall be required to file accounts as described in § 3525 of this title, except that: (1) Trustees subject to § 3523 of …

12 Del. C. § 3525. Filing of trustees’ accounts; contents; approval.

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§ 3525. Filing of trustees’ accounts; contents; approval. (a) Trustees required to file accounts as provided in the governing instrument, or in an order of the Court of Chancery, shall file accounts as described in subsection (c) of this section only in accordance with the expres…

12 Del. C. § 3526. Release of obligation to file accounts.

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§ 3526. Release of obligation to file accounts. (a) Without the approval of the Court of Chancery, a trustee or trustees (in either case hereafter referred to as “trustee”) who would otherwise be required under §§ 3521-3524 of this title to file with the Register in Chancery just…

12 Del. C. § 3527 , 3527A. Total return unitrusts; express total return unitrusts.

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§§ 3527, 3527A. Total return unitrusts; express total return unitrusts. Transferred by 77 Del. Laws, c. 330, § 10, effective Aug. 1, 2010, to §§ 61-106 and 61-107 of this title.

12 Del. C. § 3528. Trustee’s authority to invade principal or income in trust [For application of this section, see 80 Del. Laws, c. 153, § 5].

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§ 3528. Trustee’s authority to invade principal or income in trust [For application of this section, see 80 Del. Laws, c. 153, § 5]. (a) Unless the terms of the instrument expressly provide otherwise, a trustee who has authority (whether acting at such trustee’s discretion or at …

12 Del. C. § 3531. Renunciation by trustee named in trust instrument; filing and recording.

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§ 3531. Renunciation by trustee named in trust instrument; filing and recording. Whenever, by any will, deed or other instrument, a trustee is named and before the acceptance of the trust the person named as such trustee renounces and declines to perform the duties imposed thereb…

12 Del. C. § 3532. Transfer of stocks, bonds or other corporate securities by trustee; certificate of Register in Chancery.

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§ 3532. Transfer of stocks, bonds or other corporate securities by trustee; certificate of Register in Chancery. Upon the transfer by trustees of the stocks, bonds or other securities of any corporation, the certificate of the Register of the Court of Chancery in which such trust…

12 Del. C. § 3533. Sale of trust property free from trust; procedure.

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§ 3533. Sale of trust property free from trust; procedure. Upon petition of any trustee having the legal title to any property, real, personal or mixed, setting forth that the sale and conversion thereof would be for the best interests of the trust estate and the persons benefici…

12 Del. C. § 3534. Notice procedure.

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§ 3534. Notice procedure. Except as may be expressly provided in the trust instrument to the contrary, the following shall apply to any trust the administration of which is governed by this title: (1) Except for service or notice pursuant to a judicial proceeding whereby such mat…

12 Del. C. § 3535. Powers of appointment, rule against perpetuities and restraints on alienation.

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§ 3535. Powers of appointment, rule against perpetuities and restraints on alienation. The validity of an estate or interest in property created through the exercise of a power of appointment shall, for the purposes of any rule or law against perpetuities, remoteness of vesting, …

12 Del. C. § 3536. Rights of creditors and assignees of beneficiary of trust [For application of this section, see 79 Del. Laws, c. 172, § 6].

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§ 3536. Rights of creditors and assignees of beneficiary of trust [For application of this section, see 79 Del. Laws, c. 172, § 6]. (a) Except as expressly provided in subsections (c) and (d) of this section, a creditor of a beneficiary of a trust shall have only such rights agai…

12 Del. C. § 3536A. Release of beneficial interests by beneficiaries.

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§ 3536A. Release of beneficial interests by beneficiaries. (a) Subject to the limitations and conditions of subsections (b) through (f) of this section, a beneficiary of a trust may, in whole or in part, release such beneficiary’s beneficial interest in the trust, including any d…

12 Del. C. § 3537. Conveyance of realty by infant trustee.

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§ 3537. Conveyance of realty by infant trustee. Any person under the age of 18 years, having real estate in trust for others, may, by direction of the Court of Chancery given upon hearing all parties concerned on the petition of those for whom such infant is trustee or of the gua…

12 Del. C. § 3538. Testamentary trusts; certification of by Register of Wills to Register in Chancery; record.

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§ 3538. Testamentary trusts; certification of by Register of Wills to Register in Chancery; record. (a) When a will that has been probated before the Register of Wills for any of the counties of the State contains a bequest or devise in trust to pay the income arising from any pa…

12 Del. C. § 3539. Charitable trust; sale of timber on lands; application of proceeds.

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§ 3539. Charitable trust; sale of timber on lands; application of proceeds. The Court of Chancery may, when in its judgment the exercise thereof will promote the interests of the charity, direct wood or timber growing on land conveyed or devised for charitable uses to be cut and …

12 Del. C. § 3540. Powers and duties of certain trustees.

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§ 3540. Powers and duties of certain trustees. All trustees of any trust governed by the laws of this State whose governing instrument or instruments do not expressly provide that this section shall not apply to such trust are required to act or to refrain from acting so as not t…

12 Del. C. § 3541. Administration of charitable trusts or noncharitable purpose trusts; cy pres rule.

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§ 3541. Administration of charitable trusts or noncharitable purpose trusts; cy pres rule. (a) Notwithstanding any other provision of this Code or other law, a trust having any religious, charitable, scientific, literary or educational purpose (collectively, hereinafter referred …

12 Del. C. § 3542. Termination of small trusts [For application of this section, see 80 Del. Laws, c. 153, § 5].

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§ 3542. Termination of small trusts [For application of this section, see 80 Del. Laws, c. 153, § 5]. (a) Unless otherwise provided by the terms of the trust instrument, and subject to the other subsections of this section, a trustee of a trust (other than a trustee who is a sett…

12 Del. C. § 3543. Distribution of estate or trust assets without creation of trust.

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§ 3543. Distribution of estate or trust assets without creation of trust. If the terms of a will or a writing creating a trust, including, but not limited to an inter vivos trust agreement, provide for the establishment of a trust all the assets of which, due to the circumstances…

12 Del. C. § 3544. Successor trustee.

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§ 3544. Successor trustee. Unless provided otherwise by the terms of the governing instrument or by order of court, in the absence of actual knowledge of a breach of trust, or information concerning a possible breach of trust that would cause a reasonable person to inquire, a suc…

12 Del. C. § 3545. Limitations on oral trusts; execution requirements for written trusts [For application of this section, see 81 Del. Laws, c. 320, § 8].

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§ 3545. Limitations on oral trusts; execution requirements for written trusts [For application of this section, see 81 Del. Laws, c. 320, § 8]. (a) Except as otherwise required by this Code, the creation, modification or revocation of a trust whereby a person other than the trust…

12 Del. C. § 3546. Limitation on action contesting validity of trusts [For application of this section, see 80 Del. Laws, c. 153, § 5].

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§ 3546. Limitation on action contesting validity of trusts [For application of this section, see 80 Del. Laws, c. 153, § 5]. (a) A judicial proceeding to contest whether a revocable trust or any amendment thereto, or an irrevocable trust was validly created may not be initiated l…

12 Del. C. § 3547. Representation by person with a substantially identical interest [For application of this section, see 79 Del. Laws, c. 172, § 6].

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§ 3547. Representation by person with a substantially identical interest [For application of this section, see 79 Del. Laws, c. 172, § 6]. (a) (1) Unless otherwise represented, a minor, person who is incapacitated, or unborn person, or a person whose identity or location is unkno…

12 Del. C. § 3548. Limited purpose trust companies and family trust companies; general powers of appointment [For application of this section, see 85 Del. Laws, c. 346, § 9].

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§ 3548. Limited purpose trust companies and family trust companies; general powers of appointment [For application of this section, see 85 Del. Laws, c. 346, § 9]. (a) Any power conferred upon a limited purpose trust company or a family trust company formed under Chapter 7 of Tit…

12 Del. C. § 3549. Marital deduction gift; compliance with Internal Revenue Code; fiduciary powers.

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§ 3549. Marital deduction gift; compliance with Internal Revenue Code; fiduciary powers. (a) If a governing instrument contains a marital deduction gift, the governing instrument shall be construed to comply with the marital deduction provisions of the Internal Revenue Code in ev…

12 Del. C. § 3550. Electronic execution of documents.

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§ 3550. Electronic execution of documents. (a) If otherwise validly executed, the following documents may be executed in accordance with the Uniform Electronic Transaction Act, Chapter 12A of Title 6: (1) A governing instrument or other document—other than a will or codicil—descr…

12 Del. C. § 3551. Burial lots; perpetuities.

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§ 3551. Burial lots; perpetuities. (a) Any owner of any burial lot or plot in any cemetery in this State, whether or not there shall then have been an interment in the lot or plot, may convey it in trust to the corporation owning or maintaining the cemetery or to any trust compan…

12 Del. C. § 3552. Powers of cemetery corporation as to trust funds.

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§ 3552. Powers of cemetery corporation as to trust funds. Any corporation created and existing under the laws of this State and owning 1 or more cemeteries in this State may take and hold, in perpetuity or for any shorter time, any real or personal property which shall be given, …

12 Del. C. § 3553. Sale of real estate and proceeds.

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§ 3553. Sale of real estate and proceeds. Any real estate given, granted or devised to a cemetery corporation in trust, in accordance with § 3552 of this title, other than a lot or lots in the cemetery or cemeteries, may be sold and conveyed by the cemetery corporation at its dis…

12 Del. C. § 3554. Perpetual care burial lots.

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§ 3554. Perpetual care burial lots. (a) Whenever a person, partnership or corporation engaged in the business of selling burial lots with perpetual care for profit shall sell any burial lot with perpetual care, it shall deposit in a bank and trust company, trust company or nation…

12 Del. C. § 3555. Trust for care of an animal.

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§ 3555. Trust for care of an animal. (a) A trust for the care of 1 or more specific animals living at the trustor’s death is valid. The trust terminates upon the death of all animals living at the trustor’s death and covered by the terms of the trust. (b) A trust authorized by su…

12 Del. C. § 3556. Trust for other noncharitable purposes.

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§ 3556. Trust for other noncharitable purposes. Without limiting the effectiveness of § 3555 of this title: (1) A trust for a declared purpose that is not impossible of attainment is valid notwithstanding that the trust might not be deemed to be for charitable purposes. (2) A tru…

12 Del. C. § 3560. Trustees entitled to compensation in accordance with instrument.

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§ 3560. Trustees entitled to compensation in accordance with instrument. (a) Trustees under wills, trustees under inter vivos deeds of trust, both revocable and irrevocable, and successors to such trustees, are entitled to reasonable compensation for their services in accordance …

12 Del. C. § 3561. Reasonable compensation when trust instrument does not determine [For application of this section, see 85 Del. Laws, c. 346, § 9].

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§ 3561. Reasonable compensation when trust instrument does not determine [For application of this section, see 85 Del. Laws, c. 346, § 9]. (a) As used in this section, the term “qualified trustee” means any person authorized by the law of this State or of the United States to act…

12 Del. C. § 3562. Judicial review of trustees’ allowances.

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§ 3562. Judicial review of trustees’ allowances. (a) The provisions of § 3561(b)(1)c. of this title notwithstanding, the settlor or any current income beneficiary of a trust, or any other person having an equitable interest in a trust from which a fee for trustee compensation is …

12 Del. C. § 3570. Definitions [For application of this section, see 80 Del. Laws, c. 153, § 5].

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§ 3570. Definitions [For application of this section, see 80 Del. Laws, c. 153, § 5]. As used in this subchapter: (1) “Claim” means a right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undi…

12 Del. C. § 3571. Retained interests of transferor.

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§ 3571. Retained interests of transferor. A qualified disposition shall be subject to § 3572 of this title notwithstanding a transferor’s retention of any or all of the powers and rights described in § 3570(11)b. of this title and the transferor’s service as investment adviser pu…