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 trustee shall be appointed by the Court of Chancery, then upon the giving by said trustee of the security required to be given by the trustee, all the trust property, estate and effects, of every kind whatsoever and wheresoever situate and being, shall forthwith and without any act or deed pass to and be vested in such new or succeeding trustee.

23 Del. Laws, c. 197, § ?1; Code 1915, § ?3870; Code 1935, § ?4395; 12 Del. C. 1953, § ?3509; 70 Del Laws, c. 186,, § ?1;