Maryland Code, ESTATES AND TRUSTS 14.5-901
Terms Used In Maryland Code, ESTATES AND TRUSTS 14.5-901
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Fiduciary: A trustee, executor, or administrator.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Trustee: A person or institution holding and administering property in trust.
(2) A breach of trust under this subsection may occur by reason of an action or by reason of a failure to act.
(b) To remedy a breach of trust by the trustee that has occurred or may occur, the court may:
(1) Compel the trustee to perform the duties of the trustee;
(2) Enjoin the trustee from committing a breach of trust;
(3) Compel the trustee to redress a breach of trust by paying money, restoring property, or other means;
(4) Order a trustee to account;
(5) Appoint a special fiduciary to take possession of the trust property and administer the trust;
(6) Suspend the trustee;
(7) Remove the trustee as provided in § 14.5-706 of this title;
(8) Reduce or deny compensation to the trustee;
(9) Subject to § 14.5-909 of this subtitle, void an act of the trustee, impose a lien or a constructive trust on trust property, or trace trust property wrongfully disposed of and recover the property or proceeds from the property; or
(10) Order other appropriate relief.