UTC 707. Delivery of property by former trustee
- • report
(1) Unless a cotrustee remains in office or the court otherwise orders, a trustee who has resigned or been removed has the duties of a trustee and the powers necessary to protect the trust property until the trust property is delivered to a successor trustee or other person who is entitled to the property.
(2) A trustee who has resigned or been removed shall proceed expeditiously to deliver any trust property in the trustees possession to the cotrustee, successor trustee or other person who is entitled to the property.
(3) A successor trustee or the court may require a trustee that has resigned or been removed to send a report as provided in ORS 130.710 (UTC 813. Duty to inform and report) (3). Reasonable compensation for preparation of the report, and reasonable fees and costs incurred in the preparation and distribution of the report, shall be paid by the trust. [2005 c.348 §56; 2013 c.529 §15]
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