Maryland Code, ESTATES AND TRUSTS 14.5-809
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Terms Used In Maryland Code, ESTATES AND TRUSTS 14.5-809
- Personal property: All property that is not real property.
- Trustee: A person or institution holding and administering property in trust.
A trustee shall take reasonable steps to take control of and protect the trust property, except that this duty does not apply to, and the trustee is not responsible for, items of tangible personal property that are property of a trust that is revocable by the settlor and that are not in the possession or control of the trustee.