Michigan Code § 555.24

Express Trust; Death of All Trustees; Execution of Trust.
Open in Lexace · Ask the AI about this section
Sec. 24.
Upon the death of the surviving trustee of an express trust, the trust estate shall not descend to his heirs, nor pass to his personal representatives; but the trust if then unexecuted, shall vest in the court of chancery, with all the powers and duties of the original trustees, and shall be executed by some person appointed for that purpose, under the direction of the court.
History: R.S. 1846, Ch. 63 ;-- CL 1857, 2654 ;-- CL 1871, 4137 ;-- How. 5586 ;-- CL 1897, 8852 ;-- CL 1915, 11588 ;-- CL 1929, 12990 ;-- CL 1948, 555.24

‹ Prev All Michigan sections Next ›


Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.