N.J.S.A. 3B:31-52 — Delivery of property by former trustee.

3B:31-52 Delivery of property by former trustee. 3B:31-52. Delivery of Property by Former Trustee. a. Unless a co-trustee remains in office or the court otherwise orders, and until the trust property is delivered to a successor trustee or other person entitled to it, a trustee who has resigned or been removed has the duties of a trustee and the powers necessary to protect the trust property. b. A trustee who has resigned or been removed shall proceed expeditiously to deliver the trust property within the trustee's possession to the co-trustee, successor trustee, or other person entitled to it, but a resigning trustee may retain a reasonable reserve for the costs of finalizing that trustee's administration of the trust. L.2015, c.276, s.1.

This is the verbatim text of N.J.S.A. 3B:31-52, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.