1.    After notice to the qualified beneficiaries, the trustee of a trust consisting of trust property having a total value less than one hundred thousand dollars may terminate the trust if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration.

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Terms Used In North Dakota Code 59-12-14

  • Property: includes property, real and personal. See North Dakota Code 1-01-49
  • Trustee: A person or institution holding and administering property in trust.

2.    The court may modify or terminate a trust or remove the trustee and appoint a different trustee if the court determines that the value of the trust property is insufficient to justify the cost of administration.

3.    Upon termination of a trust under this section, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust.

4.    This section does not apply to an easement for conservation or preservation.

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