North Carolina General Statutes 36C-4-418. Distribution upon termination of trust
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Terms Used In North Carolina General Statutes 36C-4-418
- property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
- Trustee: A person or institution holding and administering property in trust.
Upon termination of a trust under N.C. Gen. Stat. § 36C-4-411(a), the trustee shall distribute the trust property as agreed by the beneficiaries. Upon termination of a trust under N.C. Gen. Stat. § 36C-4-411(b) or (c), the trustee shall distribute the trust property in accordance with the order entered by the court. Upon termination of a trust under N.C. Gen. Stat. § 36C-4-412(a) or N.C. Gen. Stat. § 36C-4-414, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust. (1999-266, s. 2; 2005-192, s. 2; 2007-106, s. 18.)