Title 60 — Title 60 — Property

A. Except as otherwise provided in subsection B of this section, venue for a judicial proceeding involving a trust is proper in the county of this state in which the trust's principal place of administration is or will be located and, if the trust is created by will and the estat…

A. Notice to a person who may represent and bind another person under this article has the same effect as if notice were given directly to the other person. B. The consent of a person who may represent and bind another person under this article is binding on the person represente…

of appointment. To the extent there is no conflict of interest between the holder of a general testamentary power of appointment and the persons represented with respect to the particular question or dispute, the holder may represent and bind persons whose interests, as permissib…

To the extent there is no conflict of interest between the representative and the person represented or among those being represented with respect to a particular question or dispute: 1. A guardian of the property may represent and bind the estate that the guardian controls; 2. A…

interest. Unless otherwise represented, a minor, incapacitated, or unborn individual, or a person whose identity or location is unknown and not reasonably ascertainable, may be represented by and bound by another having a substantially identical interest with respect to the parti…

A. If the court determines that an interest is not represented under this act, or that the otherwise available representation might be inadequate, the court may appoint a representative to receive notice, give consent, and otherwise represent, bind, and act on behalf of a minor, …

A trust may be created by: 1. Transfer of property to another person as trustee during the settlor's lifetime or by will or other disposition taking effect upon the settlor's death; 2. Declaration by the owner of property that the owner holds identifiable property as trustee; or …

irrevocable trust by consent. A. If, upon petition, the court finds that the settlor and all beneficiaries consent to the modification or termination of a noncharitable irrevocable trust, the court shall approve the modification or termination even if the modification or terminat…

circumstances or inability to administer trust effectively. A. The court may modify the administrative or dispositive terms of a trust or terminate the trust if, because of circumstances not anticipated by the settlor, modification or termination will further the purposes of the …

A. Except as otherwise provided in subsection B of this section, if a particular charitable purpose becomes unlawful, impracticable, impossible to achieve, or wasteful: 1. The trust does not fail, in whole or in part; 2. The trust property does not revert to the settlor or the se…

A. After notice to the qualified beneficiaries, the trustee of a trust consisting of trust property having a total value less than Fifty Thousand Dollars ($50,000.00) may terminate the trust if the trustee concludes that the value of the trust property is insufficient to justify …

The court may reform the terms of a trust, even if unambiguous, to conform the terms to the settlor's intention if it is proved by clear and convincing evidence what the settlor's intention was and that the terms of the trust were affected by a mistake of fact or law, whether in …

To achieve the settlor's tax objectives, the court may modify the terms of a trust in a manner that is not contrary to the settlor's probable intention. The court may provide that the modification has retroactive effect. Added by Laws 2025, c. 254, § 34, eff. Nov. 1, 2025.

After notice to the qualified beneficiaries, a trustee may combine two or more trusts into a single trust or divide a trust into two or more separate trusts, if the result does not impair the rights of any beneficiary or adversely affect achievement of the purposes of the trust. …

A. A trust is created only if: 1. The settlor has capacity to create a trust; 2. The settlor indicates an intention to create the trust; 3. The trust has a definite beneficiary or is: a. a charitable trust, or b. a trust for a noncharitable purpose, as provided in Section 27 of t…

A trust not created by will is validly created if its creation complies with the law of the jurisdiction in which the trust instrument was executed, or the law of the jurisdiction in which, at the time of creation: 1. The settlor was domiciled, had a place of abode, or was a nati…

A trust may be created only to the extent its purposes are lawful, not contrary to public policy, and possible to achieve. A trust and its terms must be for the benefit of its beneficiaries. Added by Laws 2025, c. 254, § 23, eff. Nov. 1, 2025.

A. A charitable trust may be created for the relief of poverty, the advancement of education or religion, the promotion of health, governmental or municipal purposes, or other purposes the achievement of which is beneficial to the community. B. If the terms of a charitable trust …

influence. A trust is void to the extent its creation was induced by fraud, duress, or undue influence. Added by Laws 2025, c. 254, § 25, eff. Nov. 1, 2025.

Except as required by a statute other than this act, a trust need not be evidenced by a trust instrument, but the creation of an oral trust and its terms may be established only by clear and convincing evidence. Added by Laws 2025, c. 254, § 26, eff. Nov. 1, 2025.

Except as otherwise provided in this act or by another statute, the following rules apply: 1. A trust may be created for a noncharitable purpose without a definite or definitely ascertainable beneficiary or for a noncharitable but otherwise valid purpose to be selected by the tru…

approval or disapproval. A. In addition to the methods of termination prescribed by Sections 29 through 32 of this act, a trust terminates to the extent the trust is revoked or expires pursuant to its terms, no purpose of the trust remains to be achieved, or the purposes of the t…

A. Whether or not the terms of a trust contain a spendthrift provision, the following rules apply: 1. Except as provided by the laws of this state, during the lifetime of the settlor, the property of a revocable trust is subject to claims of the settlor's creditors; and 2. Except…

The capacity required to create, amend, revoke, or add property to a revocable trust, or to direct the actions of the trustee of a revocable trust, is the same as that required to make a will. Added by Laws 2025, c. 254, § 37, eff. Nov. 1, 2025.

A. To the extent a trust is revocable by a settlor, a trustee may follow a direction of the settlor that is contrary to the terms of the trust. To the extent a trust is revocable by a settlor in conjunction with a person other than a trustee or person holding an adverse interest,…

trust — Distribution of trust property. A. A person may commence a judicial proceeding to contest the validity of a trust that was revocable at the settlor's death within three (3) years after the later of either the settlor's death or actual or constructive notice of the existen…

A. Except as otherwise provided in subsection C of this section, a person designated as trustee accepts the trusteeship: 1. By substantially complying with a method of acceptance provided in the terms of the trust; or 2. If the terms of the trust do not provide a method or the me…

A. A trustee shall give bond to secure performance of the trustee's duties only if the court finds that a bond is needed to protect the interests of the beneficiaries or is required by the terms of the trust and the court has not dispensed with the requirement. B. The court may s…

A. Co-trustees who are unable to reach a unanimous decision may act by majority decision. B. If a vacancy occurs in a co-trusteeship, the remaining co- trustees may act for the trust. C. Subject to Section 1212 of Title 60 of the Oklahoma Statutes, a co-trustee must participate i…

A. A vacancy in a trusteeship occurs if: 1. A person designated as trustee rejects the trusteeship; 2. A person designated as trustee cannot be identified or does not exist; 3. A trustee resigns; 4. A trustee is disqualified or removed; 5. A trustee dies; or 6. A guardian is appo…

A. A trustee may resign: 1. Upon at least thirty (30) days' notice to the qualified beneficiaries, the settlor, if living, and all co-trustees; or 2. With the approval of the court. B. In approving a resignation, the court may issue orders and impose conditions reasonably necessa…

A. The settlor, a co-trustee, or a beneficiary may request the court to remove a trustee, or a trustee may be removed by the court on its own initiative. B. The court may remove a trustee if: 1. The trustee has committed a serious breach of trust; 2. Lack of cooperation among co-…

A. Unless a co-trustee remains in office or the court otherwise orders, and until the trust property is delivered to a successor trustee or other person entitled to it, a trustee who has resigned or been removed has the duties of a trustee and the powers necessary to protect the …

A. If the terms of a trust do not specify the trustee's compensation, a trustee is entitled to compensation that is reasonable under the circumstances. B. If the terms of a trust specify the trustee's compensation, the trustee is entitled to be compensated as specified, but the c…

A. A trustee is entitled to be reimbursed out of the trust property, with interest as appropriate, for: 1. Expenses that were properly incurred in the administration of the trust; and 2. To the extent necessary to prevent unjust enrichment of the trust, expenses that were not pro…

Upon acceptance of a trusteeship, the trustee shall administer the trust in good faith, in accordance with its terms and purposes and the interests of the beneficiaries, and in accordance with this act. Added by Laws 2025, c. 254, § 49, eff. Nov. 1, 2025.

A trustee shall take reasonable steps to enforce claims of the trust and to defend claims against the trust. Added by Laws 2025, c. 254, § 58, eff. Nov. 1, 2025.

A trustee shall take reasonable steps to compel a former trustee or other person to deliver trust property to the trustee, and to take reasonable steps to redress a breach of trust known to the trustee to have been committed by a former trustee. Added by Laws 2025, c. 254, § 59, …

A. A trustee shall keep the qualified beneficiaries of the trust reasonably informed about the administration of the trust and of the material facts necessary for them to protect their interests. Unless unreasonable under the circumstances, a trustee shall promptly respond to a b…

A. Notwithstanding the breadth of discretion granted to a trustee in the terms of the trust, including the use of such terms as "absolute", "sole", or "uncontrolled", the trustee shall exercise a discretionary power in good faith and in accordance with the terms and purposes of t…

A. A trustee, without authorization by the court, may exercise: 1. Powers conferred by the terms of the trust; and 2. Except as limited by the terms of the trust: a. all powers over the trust property which an unmarried competent owner has over individually owned property, b. any…

Without limiting the authority conferred by Section 62 of this act, a trustee may: 1. Collect trust property and accept or reject additions to the trust property from a settlor or any other person; 2. Acquire or sell property, for cash or on credit, at public or private sale; 3. …

A. Upon termination or partial termination of a trust, the trustee may send to the beneficiaries a proposal for distribution. The right of any beneficiary to object to the proposed distribution terminates if the beneficiary does not notify the trustee of an objection within thirt…

A. A trustee shall administer the trust solely in the interests of the beneficiaries. B. Subject to the rights of persons dealing with or assisting the trustee as provided in subsection I of Section 175.57 of Title 60 of the Oklahoma Statutes, a sale, encumbrance, or other transa…

If a trust has two or more beneficiaries, the trustee shall act impartially in investing, managing, and distributing the trust property, giving due regard to the beneficiaries' respective interests. Added by Laws 2025, c. 254, § 51, eff. Nov. 1, 2025.

A trustee shall administer the trust as a prudent person would, by considering the purposes, terms, distributional requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill, and caution. Added by Laws 2025, …

In administering a trust, the trustee may incur only costs that are reasonable in relation to the trust property, the purposes of the trust, and the skills of the trustee. Added by Laws 2025, c. 254, § 53, eff. Nov. 1, 2025.

A trustee who has special skills or expertise, or is named trustee in reliance upon the trustee's representation that the trustee has special skills or expertise, shall use those special skills or expertise. Added by Laws 2025, c. 254, § 54, eff. Nov. 1, 2025.

A. A trustee may delegate duties and powers that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustee shall exercise reasonable care, skill, and caution in: 1. Selecting an agent; 2. Establishing the scope and terms of the delegation…

A trustee shall take reasonable steps to take control of and protect the trust property. Added by Laws 2025, c. 254, § 56, eff. Nov. 1, 2025.