Arizona Laws 14-10815. General powers of trustee
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A. A trustee, without authorization by the court, may exercise:
Terms Used In Arizona Laws 14-10815
- Court: means the superior court. See Arizona Laws 14-1201
- Fiduciary: A trustee, executor, or administrator.
- Fiduciary: includes a personal representative, guardian, conservator and trustee. See Arizona Laws 14-1201
- Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government, governmental subdivision, agency or instrumentality, public corporation or any other legal or commercial entity. See Arizona Laws 14-10103
- Property: means anything that may be the subject of ownership, whether real or personal, legal or equitable, or any interest in anything that may be the subject of ownership. See Arizona Laws 14-10103
- Trust: includes an express trust, private or charitable, with any additions, wherever and however created. See Arizona Laws 14-1201
1. Powers conferred by the terms of the trust.
2. Except as limited by the terms of the trust:
(a) All powers over the trust property that an unmarried competent owner has over individually owned property.
(b) Any other powers appropriate to achieve the proper investment, management and distribution of the trust property.
(c) Any other powers conferred by this chapter.
B. The exercise of a power by a person acting in a fiduciary capacity is subject to the fiduciary duties prescribed by this article.