(1)  A trustee may resign:

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Terms Used In Utah Code 75-7-705

  • Property: includes both real and personal property. See Utah Code 68-3-12.5
  • Trustee: A person or institution holding and administering property in trust.
(a)  upon at least 30 days’ notice to the qualified beneficiaries, the settlor, if living, and all cotrustees; or

(b)  with the approval of the court.

(2)  In approving a resignation, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property.

(3)  Any liability of a resigning trustee or of any sureties on the trustee’s bond for acts or omissions of the trustee is not discharged or affected by the trustee’s resignation.

Enacted by Chapter 89, 2004 General Session