§ 1505. Proceeding when testamentary trustee is also executor or\n administrator\n 1. Where the same person is a testamentary trustee and also the\nexecutor of the will or the administrator upon the same estate,\nproceedings taken by or against him as trustee, as prescribed in this\nact, do not affect him as executor or administrator or persons\ninterested in the general estate, except in one of the following cases:\n (a) Where he presents a petition praying for the revocation of his\nletters, he may in the same petition show that he is entitled to resign\nas testamentary trustee and may thereupon pray for a decree allowing him\nto resign and for process accordingly.\n (b) Where a person presents a petition praying for the revocation of\nletters issued to an executor or administrator and any of the facts in\nthe petition are made, by the provisions of this act, sufficient to\nentitle the same person to present a petition praying for the removal of\na testamentary trustee, the petitioner may pray for a decree removing\nthe person complained of in both capacities, and for process\naccordingly.\n 2. In either case proceedings upon the petition for resignation or\nremoval, as the case requires, of the testamentary trustee, and for the\njudicial settlement of his account, may be taken as prescribed in this\nact, in connection with or separately from the like proceedings upon the\npetition for the revocation of the letters, as directed by the court.\n
‹ Prev All New York 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.