Mich. Comp. Laws § 555.24

Current through Public Act 48 of the 2024 Legislative Session
Section 555.24 - Express trust; death of all trustees; execution of trust

Upon the death of the surviving trustee of an express trust, the trust estate shall not descend to his heirs, nor pass to his personal representatives; but the trust if then unexecuted, shall vest in the court of chancery, with all the powers and duties of the original trustees, and shall be executed by some person appointed for that purpose, under the direction of the court.

MCL 555.24

R.S. 1846, Ch. 63 ;--CL 1857, 2654 ;--CL 1871, 4137 ;--How. 5586 ;--CL 1897, 8852 ;--CL 1915, 11588 ;--CL 1929, 12990 ;--CL 1948, 555.24.