Sec. 5. (a) If the trustee fails to comply with the provisions of sections 1 through 4 of this chapter, the judge of the circuit court, superior court, or probate court, or the clerk of the circuit court may, at the instance of the assignor or a creditor, by petition:

(1) remove the trustee; and

Terms Used In Indiana Code 32-18-1-5

  • Clerk: means the clerk of the court or a person authorized to perform the clerk's duties. See Indiana Code 1-1-4-5
  • Probate: Proving a will
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
  • Trustee: A person or institution holding and administering property in trust.
(2) appoint another suitable person as trustee.

     (b) A replacement trustee shall:

(1) comply with the requirements specified in this chapter;

(2) immediately take possession and control of the property assigned; and

(3) enter upon the execution of the trust, as provided in this chapter.

[Pre-2002 Recodification Citation: 32-12-1-5.]

As added by P.L.2-2002, SEC.3. Amended by P.L.84-2016, SEC.137.

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