Ohio Code 5808.15 – General powers of trustee
Current as of: 2024 | Check for updates
|
Other versions
(A) A trustee, without authorization by the court, may exercise powers conferred by the terms of the trust and, except as limited by the terms of the trust, may exercise all of the following powers:
Terms Used In Ohio Code 5808.15
- Fiduciary: A trustee, executor, or administrator.
- Property: means real and personal property. See Ohio Code 1.59
- Trustee: A person or institution holding and administering property in trust.
(1) All powers over the trust property that an unmarried competent owner has over individually owned property;
(2) Any other powers appropriate to achieve the proper investment, management, and distribution of the trust property;
(3) Any other powers conferred by Chapters 5801. to 5811. of the Revised Code.
(B) The exercise of a power is subject to the fiduciary duties prescribed by Chapter 5808 of the Revised Code.