§ 7780.6. Illustrative powers of trustee
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 20 Pa.C.S.A. Decedents, Estates and FiduciariesEffective: November 6, 2006
Effective: November 6, 2006
20 Pa.C.S.A. § 7780.6
§ 7780.6. Illustrative powers of trustee
(7) To advance money for the protection of the trust and for all expenses, losses and liability sustained in the administration of the trust or because of the holding or ownership of any trust assets. The trustee has a lien on the trust assets as against the beneficiary for an advance under this paragraph, including interest on the advance.
(10) To sell or exchange any real or personal property at public or private sale, without obligation to repudiate an otherwise binding agreement in favor of better offers. If the trustee has been required to give bond, no proceeds of the sale of real estate, including proceeds arising by the reason of involuntary conversion, shall be paid to the trustee until:
(17) To partition, subdivide, repair, improve or develop real estate; enter into agreements concerning the partition, subdivision, repair, improvement, development, zoning or management of real estate; impose or extinguish restrictions on real estate; dedicate land and easements to public use; adjust boundaries; and do anything else regarding real estate which is commercially reasonable or customary under the circumstances.
(19) To operate, repair, maintain, equip and improve any farm or farm operation; to purchase and sell livestock, crops, feed and other property that is normally perishable; and to purchase, use and dispose of farm equipment and employ one or more farm managers and others in connection with farm equipment and pay them reasonable compensation.
(23) To employ a custodian; hold property unregistered or in the name of a nominee, including the nominee of any institution employed as custodian, without disclosing the fiduciary relationship and without retaining possession and control of securities or other property so held or registered; and pay reasonable compensation to the custodian.
Credits
2006, July 7, P.L. 625, No. 98, § 9, effective in 120 days [Nov. 6, 2006]. Amended 2010, Oct. 27, P.L. 837, No. 85, § 8, retroactive effective Nov. 6, 2006.
20 Pa.C.S.A. § 7780.6, PA ST 20 Pa.C.S.A. § 7780.6
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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