736.0707 Delivery of property by former trustee.—
(1) Unless a cotrustee remains in office or the court otherwise orders and until the trust property is delivered to a successor trustee or other person entitled to the property, a trustee who has resigned or been removed has the duties of a trustee and the powers necessary to protect the trust property.
(2) A trustee who has resigned or been removed shall within a reasonable time deliver the trust property within the trustee’s possession to the cotrustee, successor trustee, or other person entitled to the property, subject to the right of the trustee to retain a reasonable reserve for the payment of debts, expenses, and taxes. The provisions of this subsection are in addition to and are not in derogation of the rights of a removed or resigning trustee under the common law.
History.—s. 7, ch. 2006-217.
Section: Previous 736.0701 736.0702 736.0703 736.0704 736.0705 736.0706 736.0707 736.0708 736.0709 NextLast modified: September 23, 2016