Title 75B, Title 75B: Trusts

75B-2-1005. Limitation of action against trustee. (1) A beneficiary may not commence a proceeding against a trustee for breach of trust more than six months after the date that the beneficiary or a person who may represent and bind the beneficiary was sent a report that adequatel…

75B-2-1006. Reliance on trust instrument. A trustee who acts in reasonable reliance on the terms of the trust as expressed in the trust instrument is not liable to a beneficiary for a breach of trust to the extent the breach resulted from the reliance.

75B-2-1007. Event affecting administration or distribution. If the happening of an event, including marriage, divorce, performance of educational requirements, or death, affects the administration or distribution of a trust, a trustee is not liable for a loss resulting from the t…

75B-2-1008. Exculpation of trustee. A term of a trust relieving a trustee of liability for breach of trust is unenforceable to the extent that the term: (1) relieves the trustee of liability for breach of trust committed in bad faith or with reckless indifference to the purposes …

75B-2-1009. Beneficiary's consent, release, or ratification. A trustee is not liable to a beneficiary for breach of trust if the beneficiary, while having capacity, consented to the conduct constituting the breach, released the trustee from liability for the breach, or ratified t…

75B-2-1010. Limitation on personal liability of trustee. (1) Except as otherwise provided in the contract, a trustee is not personally liable on a contract properly entered into in the trustee's fiduciary capacity in the course of administering the trust if the trustee in the con…

75B-2-1011. Interest as general partner. (1) Except as otherwise provided in Subsectionor unless personal liability is imposed in the contract, a trustee who holds an interest as a general partner in a general or limited partnership is not personally liable on a contract entered …

75B-2-1011. Interest as general partner. (1) Except as otherwise provided in Subsectionor unless personal liability is imposed in the contract, a trustee who holds an interest as a general partner in a general or limited partnership is not personally liable on a contract entered …

75B-2-1012. Protection of person dealing with trustee. (1) A person other than a beneficiary who in good faith assists a trustee, or who in good faith and for value deals with a trustee, without knowledge that the trustee is exceeding or improperly exercising the trustee's powers…

75B-2-1013. Certification of trust. (1) Instead of furnishing a copy of the trust instrument to a person other than a beneficiary, the trustee may furnish to the person a certification of trust containing the following information: that the trust exists and the date the trust ins…

75B-2-102. Scope. This chapter applies to a trust.

75B-2-103. Definitions for chapter. As used in this chapter: (1) "Action," with respect to an act of a trustee, includes a failure to act. (2) "Charitable trust" means a trust, or portion of a trust, created for a charitable purpose described in Subsection. 75B-2-405(1) (3) "Envi…

75B-2-104. Knowledge. (1) Subject to Subsection, a person has knowledge of a fact if the person: (2) has actual knowledge of the fact; has received a notice or notification of the fact; or from all the facts and circumstances known to the person at the time in question, has reaso…

75B-2-105. Default and mandatory rules. (1) Except as otherwise provided in the terms of the trust, this chapter governs the duties and powers of a trustee, relations among trustees, and the rights and interests of a beneficiary. (2) Except as specifically provided in this chapte…

75B-2-106. Common law of trusts -- Principles of equity. The common law of trusts and principles of equity supplement this chapter, except to the extent modified by this chapter or laws of this state.

75B-2-107. Governing law. (1) As used in this section: "Foreign trust" means a trust that is created in another state or country and valid in the state or country in which the trust is created. "State law provision" means a provision that the laws of a named state govern the vali…

75B-2-108. Principal place of administration. (1) Without precluding other means for establishing a sufficient connection with the designated jurisdiction, the terms of a trust designating the principal place of administration are valid and controlling if: a trustee's principal p…

75B-2-109. Methods and waiver of notice. (1) Notice to a person under this chapter or the sending of a document to a person under this chapter must be accomplished in a manner reasonably suitable under the circumstances and likely to result in receipt of the notice or document. P…

75B-2-110. Nonjudicial settlement agreements. (1) As used in this section, "interested person" means a person whose consent would be required in order to achieve a binding settlement were the settlement to be approved by the court. (2) Except as otherwise provided in Subsection, …

75B-2-1101. Uniformity of application and construction. In applying and construing this chapter, consideration must be given to the need to promote uniformity of the law with respect to this chapter's subject matter among states that enact this chapter.

75B-2-1102. Electronic records and signatures. The provisions of this chapter governing the legal effect, validity, or enforceability of electronic records or electronic signatures, and of contracts formed or performed with the use of such records or signatures, conform to the re…

75B-2-1103. Application to existing relationships. (1) Except as otherwise provided, this chapter applies to: all trusts created before, on, or after July 1, 2004; all judicial proceedings concerning trusts commenced on or after July 1, 2004; and judicial proceedings concerning t…

75B-2-111. Rules of construction. The rules of construction that apply to the interpretation of and disposition of property by will or other governing instrument also apply as appropriate to the interpretation of the terms of a trust and the disposition of the trust property.

75B-2-112. Penalty provisions. A provision in a trust instrument purporting to penalize a beneficiary by charging the beneficiary's interest in the trust, or to penalize the beneficiary in another manner, for instituting a proceeding to challenge the acts of the trustee or other …

75B-2-113. Foreign trustees. (1) A foreign corporate trustee is required to qualify as a foreign corporation doing business in this state if the foreign corporate trustee maintains the principal place of administration of any trust within the state. (2) A foreign corporate cotrus…

75B-2-201. Court -- Exclusive jurisdiction of trusts. (1) The court has exclusive jurisdiction over proceedings initiated by an interested party concerning the internal affairs of trusts. An interested party may bring proceedings under Subsectionconcerning: (1)(a) the administrat…

75B-2-202. Effect of administration in this state -- Consent to jurisdiction. (1) The trustee submits personally to the jurisdiction of the courts of this state regarding any matter involving the trust if the trustee acts as trustee of a trust administered in this state. (2) To t…

75B-2-203. Jurisdiction over an action involving a trust. (1) A court of this state has jurisdiction as described in Title 78A, Judiciary and Judicial Administration, over an action involving a trust. (2) This section does not preclude judicial or nonjudicial alternative dispute …

75B-2-204. Trust proceedings -- Dismissal of matters relating to foreign trusts. (1) The court may not, over the objection of a party, entertain proceedings under Sectioninvolving a trust that: 75B-2-201 is under the continuing supervision of a foreign court; is registered in ano…

75B-2-205. Venue for an action involving a trust. (1) Notwithstanding Title 78B, Chapter 3a, Venue for Civil Actions, and except as provided in Subsection (2), a person shall bring an action involving a trust in: the county in which the trust's principal place of administration i…

75B-2-301. Basic effect. (1) Notice to a person who may represent and bind another person under this part has the same effect as if notice were given directly to the other person. (2) The consent of a person who may represent and bind another person under this part is binding on …

75B-2-302. Representation by holder of general testamentary power 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 h…

75B-2-303. Representation by fiduciaries and parents. 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 conservator may represent and bind t…

75B-2-304. Representation by person having substantially identical 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 …

75B-2-305. Appointment of guardian ad litem or other representative. (1) If the court determines that an interest is not represented under this part, or that the otherwise available representation might be inadequate, the court may appoint a guardian ad litem or other representat…

75B-2-401. Methods of creating trust. (1) A trust may be created by: 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; declaration by the owner of property that the owner holds i…

75B-2-402. Requirements for creation. (1) A trust is created only if: the settlor has capacity to create a trust, which standard of capacity shall be the same as for a person to create a will; the settlor indicates an intention to create the trust or a statute, judgment, or decre…

75B-2-403. Trusts created in other jurisdictions. 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…

75B-2-404. Trust purposes. (1) A trust may be created only to the extent the trust's purposes are lawful, not contrary to public policy, and possible to achieve. (2) A trust and the trust's terms must be for the benefit of the trust's beneficiaries.

75B-2-405. Charitable purposes -- Enforcement. (1) 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 c…

75B-2-406. Creation of trust induced by fraud, duress, or undue influence. A trust is void to the extent the trust's creation was induced by fraud, duress, or undue influence.

75B-2-407. Evidence of oral trust. Except as required by a statute other than this chapter, a trust need not be evidenced by a trust instrument, but the creation of an oral trust and the trust's terms may be established only by clear and convincing evidence.

75B-2-408. Trust for care of animal. A trust may be created to provide for the care of a pet or animal as provided in Section.

75B-2-409. Noncharitable trust without ascertainable beneficiary. 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 trustee as provided in Section.…

75B-2-410. Modification or termination of trust -- Proceedings for approval or disapproval. (1) In addition to the methods of termination prescribed by Sectionsthrough, a trust terminates to the extent the trust is revoked or expires pursuant to the trust's terms, no purpose of t…

75B-2-411. Modification or termination of noncharitable irrevocable trust by consent. (1) A noncharitable, irrevocable trust may be modified or terminated upon consent of the settlor and all beneficiaries, even if the modification or termination is inconsistent with a material pu…