reglab/housing_qa huggingface dataset:
NC Gen Stat § 36C-4-413 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 4 - Creation, Validity, Modification, and Termination of Trust.|§ 36C-4-413 - Cy pres.

 36C-4-413. Cy pres.(a) Except as otherwise provided in subsections (c1) and (d) of this section, if a charitable trust becomes unlawful, impracticable, impossible to achieve, or wasteful:(1) The trust does not fail, in whole or in part;(2) The trust property does not revert to the settlor or the settlor's successors in interest; and(3) The court may apply cy pres to modify or terminate the trust by directing that the trust property be applied or distributed, in whole or in part, in a manner consistent with the settlor's charitable purposes.(b) The settlor or a trustee of a charitable trust, the Attorney General, a beneficiary, or any other interested party may maintain a cy pres proceeding under Article 2 of this Chapter.(c) Repealed by Session Laws 2007-106, s. 17.1, effective October 1, 2007.(c1) If a trustee of a charitable trust determines that a restriction contained in the trust instrument, including a document making a gift to a charitable trust after it is established, relating to the management, investment, or purpose of the trust or gift is unlawful, impracticable, impossible to achieve, or wasteful, the trustee may release or modify the restriction, in whole or part, if:(1) The trust property to which the restriction applies has a total value of less than one hundred thousand dollars ($100,000);(2) More than 10 years have elapsed since the trust property to which the restriction applies was given to the charitable trust; and(3) The trustee uses the trust property in a manner consistent with the charitable purposes expressed in the applicable trust instrument.The trustee must provide written notice of the proposed release or modification of the restriction to the Attorney General not less than 60 days before releasing or modifying the restriction. The Attorney General may make application to the court to contest the trustee's determination that the restriction should be released or modified within 60 days of receipt of the trustee's written notice.(d) This section is not applicable if the settlor has provided, either directly or indirectly, for an alternative plan in the event that the charitable trust is or becomes unlawful, impracticable, impossible to achieve, or wasteful. However, if the alternative plan is also a charitable trust and that trust fails, the intention shown in the original plan shall prevail in the application of this section.  (2005-192, s. 2; 2007-106, s. 17.1; 2009-8, s. 4.)
NC Gen Stat § 36C-4-414 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 4 - Creation, Validity, Modification, and Termination of Trust.|§ 36C-4-414 - Modification or termination of uneconomic trust.

 36C-4-414. Modification or termination of uneconomic trust.(a) After notice to the qualified beneficiaries, the trustee of a trust consisting of trust property having a total value of less than fifty thousand dollars ($50,000) may terminate the trust if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration. The trustee may enter into an agreement or make other provisions that the trustee deems necessary or appropriate to protect the interests of the beneficiaries and to carry out the intent and purpose of the trust. This subsection shall not apply where the instrument creating the trust, by specific reference to this section, or to former G.S. 36A-125.6, provides that it shall not apply. The trustee shall not be liable for that termination and distribution notwithstanding the existence or potential existence of other beneficiaries who are not sui juris. Any beneficiary receiving a distribution from a trust terminated under this section shall incur no liability and shall not be required to account to anyone for such distribution.(b) The court may modify or terminate a trust or remove the trustee and appoint a different trustee if the court determines that the value of the trust property is insufficient to justify the cost of administration.(c) This section does not apply to an easement for conservation or preservation.(d) Repealed by Session Laws 2006-259, s. 13(f), effective October 1, 2006. (2005-192, s. 2; 2006-259, s. 13(f).)
NC Gen Stat § 36C-4-415 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 4 - Creation, Validity, Modification, and Termination of Trust.|§ 36C-4-415 - Reformation to correct mistakes.

 36C-4-415. Reformation to correct mistakes.The court may reform the terms of a trust, if the terms of the trust are ambiguous, to conform the terms to the settlor's intent if it is proved by clear and convincing evidence what the settlor's intent was and that the terms of the trust were affected by a mistake of fact or law, whether in expression or inducement.  (2005-192, s. 2; 2017-152, s. 4.)
NC Gen Stat § 36C-4-416 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 4 - Creation, Validity, Modification, and Termination of Trust.|§ 36C-4-416 - Modification to achieve settlor's tax objectives.

 36C-4-416. Modification to achieve settlor's tax objectives.To achieve a settlor's tax objectives, the court may modify the terms of a trust in a manner that is not contrary to the settlor's probable intention. The court may provide that the modification has retroactive effect. (2005-192, s. 2; 2006-259, s. 13(g).)
NC Gen Stat § 36C-4-417 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 4 - Creation, Validity, Modification, and Termination of Trust.|§ 36C-4-417 - Combination and division of trusts.

 36C-4-417. Combination and division of trusts.(a) Unless otherwise provided in the trust instrument, a trustee may do any of the following:(1) Consolidate the assets of more than one trust and administer the assets as one trust under the terms of one of the trusts if the terms of the trusts are substantially similar and the beneficiaries of the trusts are identical.(2) Divide one trust into two or more separate trusts if the new trusts provide in the aggregate for the same succession of interests and beneficiaries as are provided in the original trust.(b) In dividing a trust into two or more separate trusts, a trustee shall accomplish the division by severing the trusts on a fractional basis and funding the separate trusts either (i) with a pro rata portion of each asset held by the undivided trust; or (ii) on a non-pro rata basis based on either the fair market value of the assets on the date of funding or in a manner that fairly reflects the net appreciation or depreciation in the value of the assets measured from the valuation date to the date of funding.(c) In any case where two separate identical trusts are created under this section, one of which is fully exempt from the federal generation-skipping transfer tax and one of which is fully subject to that tax, the trustee may thereafter, to the extent possible consistent with the terms of the trust, determine the value of any mandatory or discretionary distributions to trust beneficiaries on the basis of the combined value of both trusts, but may satisfy those distributions by a method other than pro rata from the separate trusts in a manner designed to minimize the current and potential generation-skipping transfer tax. (2005-192, s. 2; 2006-259, s. 13(h).)
NC Gen Stat § 36C-4-418 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 4 - Creation, Validity, Modification, and Termination of Trust.|§ 36C-4-418 - Distribution upon termination of trust.

 36C-4-418. Distribution upon termination of trust.Upon termination of a trust under G.S. 36C-4-411(a), the trustee shall distribute the trust property as agreed by the beneficiaries. Upon termination of a trust under G.S. 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 G.S. 36C-4-412(a) or G.S. 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.)
NC Gen Stat § 36C-4-419 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 4 - Creation, Validity, Modification, and Termination of Trust.|§ 36C-4-419 - Effect of inalienable interest on modification or termination.

 36C-4-419. Effect of inalienable interest on modification or termination.The court, in exercising its discretion to modify or terminate an irrevocable trust under G.S. 36C-4-411, 36C-4-412, or 36C-4-414 shall consider provisions making the interest of a beneficiary inalienable, including those described in Article 5, but the court is not precluded from the exercise of that discretion solely because of such provisions. (2005-192, s. 2; 2006-259, s. 13(i).)
NC Gen Stat § 36C-4A-2 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 4A - Tax Status of Charitable Trusts.|§ 36C-4A-2 - Reformation of charitable remainder trust.

 36C-4A-2. Reformation of charitable remainder trust.If a federal estate tax deduction is not allowable at the time of a decedent's death because of the failure of an interest in property that passes from the decedent under a will or trust to a person, or for a use, described in section 2055(a) of the Internal Revenue Code, to meet the requirements of subsections 2055(e)(2)(A) or (B) of the Internal Revenue Code, then in order that the deduction shall nevertheless be allowable under section 2055(e)(3) of the Internal Revenue Code, the court may, on application of any trustee or interested party with either (i) the written consent of the qualified beneficiaries, or (ii) a finding that the interest of those beneficiaries is substantially preserved, order an amendment to the trust so that the remainder interest is in a trust that is a charitable remainder annuity trust, a charitable remainder unitrust (as those terms are described in section 664 of the Internal Revenue Code), or a pooled income fund (as that term is described in section 642(c)(5) of the Internal Revenue Code), or so that any other interest of a charitable beneficiary is in the form of a guaranteed annuity or is a fixed percentage distributed yearly of the fair market value of the property (to be determined yearly), in accordance with section 2055(e)(2)(B) of the Internal Revenue Code. In every proceeding under this section, the Attorney General shall be notified, and given an opportunity to be heard. (1971, c. 1136, s. 4; 1977, c. 502, s. 2; 1981 (Reg. Sess., 1982), c. 1210, ss. 1-3; 2005-192, s. 2.)
NC Gen Stat § 36C-4B-1 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 4B - Charitable Remainder Trust Administration Act.|§ 36C-4B-1 - Short title.

 36C-4B-1. Short title.This Article shall be known as the Charitable Remainder Administration Trust Act. (1981 (Reg. Sess., 1982), c. 1252, s. 1; 2005-192, s. 2.)
NC Gen Stat § 36C-4B-2 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 4B - Charitable Remainder Trust Administration Act.|§ 36C-4B-2 - General rule.

 36C-4B-2. General rule.Notwithstanding any provisions in the laws of this State or in the governing instruments to the contrary, any charitable remainder annuity trust and any charitable remainder unitrust that cannot qualify for a deduction for federal tax purposes under section 2055 or section 2522 of the Internal Revenue Code in the absence of this Article shall be administered in accordance with this Article. (1981 (Reg. Sess., 1982), c. 1252, s. 1; 2005-192, s. 2.)
NC Gen Stat § 36C-4B-7 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 4B - Charitable Remainder Trust Administration Act.|§ 36C-4B-7 - Interpretation.

 36C-4B-7. Interpretation.This Article shall be interpreted and construed to effectuate its general purpose to cause all charitable remainder annuity trusts and all charitable remainder unitrusts to be administered in accordance with section 2055 and section 2522 of the Internal Revenue Code and the regulations under those sections. (1981 (Reg. Sess., 1982), c. 1252, s. 1; 2005-192, s. 2.)
NC Gen Stat § 36C-4C-1 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 4C - Judicial Establishment of Validity of a Revocable Trust.|§ 36C-4C-1 - Proceedings for validity of a revocable trust.

 36C-4C-1. Proceedings for validity of a revocable trust.A settlor may commence a judicial proceeding to establish the validity of a revocable trust pursuant to this Article.  (2021-53, s. 1.1.)
NC Gen Stat § 36C-4C-2 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 4C - Judicial Establishment of Validity of a Revocable Trust.|§ 36C-4C-2 - Establishing validity of a revocable trust before death.

 36C-4C-2. Establishing validity of a revocable trust before death.(a) During the settlor's lifetime, any settlor of a revocable trust who is a resident of North Carolina may commence a judicial proceeding seeking a judicial declaration that the trust is valid.(b) The petition shall be filed with the Superior Court Division of the General Court of Justice. At the hearing, the petitioner shall produce the evidence necessary to establish that the revocable trust, including any existing amendments thereto, is valid and enforceable under its terms, subject only to a subsequent amendment or revocation of the revocable trust. Civil summonses shall be issued to those interested persons identified in the settlor's petition, and such parties shall be served with a copy of the summons and petition as provided in Rule 4 of the Rules of Civil Procedure.(c) The petition filed to determine the validity of a revocable trust may also join as an additional claim a request for a judicial declaration that the petitioner's will or codicil is valid as provided in Article 2B of Chapter 28A of the General Statutes and, notwithstanding G.S. 28A-2B-1(b), the joined action shall be heard in the Superior Court Division of the General Court of Justice as provided in this Article.(d) Failure to use the procedure authorized by this Article shall not have any evidentiary or procedural effect on any future proceedings, including trust proceedings, civil actions, and estate proceedings.(e) For purposes of this Article only, a "petitioner" is a person who requests a judicial declaration that confirms the validity of that person's revocable trust.  (2021-53, s. 1.1.)
NC Gen Stat § 36C-4C-3 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 4C - Judicial Establishment of Validity of a Revocable Trust.|§ 36C-4C-3 - Venue.

 36C-4C-3. Venue.The venue for a petition under this Article shall be as provided in G.S. 36C-2-204.  (2021-53, s. 1.1.)
NC Gen Stat § 36C-4C-4 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 4C - Judicial Establishment of Validity of a Revocable Trust.|§ 36C-4C-4 - Contents of petition for revocable trust validity.

 36C-4C-4. Contents of petition for revocable trust validity.(a) Petition. - A petition requesting an order declaring that a petitioner's revocable trust is valid shall be verified and shall contain the following information:(1) A statement that the petitioner is a resident of North Carolina and specifying the county of the petitioner's residence.(2) Allegations that the revocable trust was prepared and executed in accordance with North Carolina law and a statement that the revocable trust was created with intent to create the revocable trust.(3) A statement that the petitioner had capacity to create a revocable trust at the time the trust was created.(4) A statement that the petitioner was free from undue influence and duress and executed the revocable trust in the exercise of the petitioner's free will.(5) A statement identifying the petitioner, and all persons believed by the petitioner to have an interest in the proceeding, including, for any interested parties who are minors, information regarding the minor's appropriate representative.(b) The petitioner shall attach a copy of the revocable trust and any amendments then in effect to the petition. If an order is entered declaring the revocable trust to be valid, the petitioner shall tender the original revocable trust and any amendments then in effect at the hearing, and the court shall affix a certificate of validity to such revocable trust and amendments, if any.  (2021-53, s. 1.1.)
NC Gen Stat § 36C-4C-5 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 4C - Judicial Establishment of Validity of a Revocable Trust.|§ 36C-4C-5 - Declaration by court; bar to contesting validity of trust.

 36C-4C-5. Declaration by court; bar to contesting validity of trust.(a) If the court enters a judgment declaring a revocable trust to be valid, such judgment shall be binding upon all parties to the proceeding, including any persons represented in the proceeding, pursuant to the provisions of Article 3 of Chapter 36C of the General Statutes, and no party bound by the judgment shall have any further right to, and shall be barred from filing, a challenge to the validity of the revocable trust once that trust becomes irrevocable.(b) If the court declares a revocable trust to be valid, upon the motion of the petitioner or the court, the court may order that the trust cannot be revoked and that no subsequent revocable trust or amendment to the validated trust will be valid unless the revocation or the subsequent amendment to the validated trust is declared valid in a proceeding under this Article. If the court enters such an order, any subsequent revocation of the trust not declared valid in a proceeding under this Article shall be void, and any subsequent trust or amendment to the validated trust not declared valid in a proceeding under this Article shall be void.(c) If a revocable trust judicially declared valid is revoked or modified by a subsequent revocable trust or amendment, nothing in this section shall bar an interested person from contesting the validity of that subsequent trust or amendment, unless that subsequent trust or amendment is also declared valid in a proceeding under this Article in which the interested person was a party. If a trust or amendment to a trust judicially declared valid is revoked by a method other than the execution of a subsequent trust, nothing in this section shall bar an interested person from contesting the validity of that revocation, unless that revocation is also declared valid in a proceeding under this Article in which the interested person was a party.(d) Nothing in this Article shall preclude a party from seeking relief from a judgment pursuant to Rule 60 of the North Carolina Rules of Civil Procedure, including, without limitation, for fraud upon the court.  (2021-53, s. 1.1.)
NC Gen Stat § 36C-4C-6 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 4C - Judicial Establishment of Validity of a Revocable Trust.|§ 36C-4C-6 - Confidentiality.

 36C-4C-6. Confidentiality.(a) Following the entry of a judgment, a party to the proceeding may move that the contents of the file be sealed and kept confidential, and upon such motion, the court shall seal the contents of the file from public inspection. The contents of the file shall not be released except by order of the court to any person other than the following:(1) The petitioner named in the petition.(2) The attorney for the petitioner.(3) A court of competent jurisdiction hearing or reviewing the matter.(b) For good cause shown, the court may order the records that are confidential under this section to be made available to a person who is not listed in this section. Following the petitioner's death, a sealed file shall be unsealed upon the request of any interested person for the purpose of other estate proceedings.  (2021-53, s. 1.1.)
NC Gen Stat § 36C-5-501 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 5 - Creditors' Claims; Spendthrift and Discretionary Trusts.|§ 36C-5-501 - Rights of beneficiary's creditor or assignee.

 36C-5-501. Rights of beneficiary's creditor or assignee.(a) Except as provided in subsection (b) of this section, the court may authorize a creditor or assignee of the beneficiary to reach the beneficiary's interest by attachment of present or future distributions to or for the benefit of the beneficiary or other means. The court may limit the award to that relief as is appropriate under the circumstances.(b) Subsection (a) of this section shall not apply, and a trustee shall have no liability to any creditor of a beneficiary for any distributions made to or for the benefit of the beneficiary, to the extent that a beneficiary's interest is protected or restricted by any of the following:(1) A spendthrift provision.(2) A discretionary trust interest as defined in G.S. 36C-5-504(a)(2).(3) A protective trust interest as described in G.S. 36C-5-508. (2005-192, s. 2; 2007-106, s. 19.)
NC Gen Stat § 36C-5-502 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 5 - Creditors' Claims; Spendthrift and Discretionary Trusts.|§ 36C-5-502 - Spendthrift provision.

 36C-5-502. Spendthrift provision.(a) A spendthrift provision is valid only if it restrains both voluntary and involuntary transfer of a beneficiary's interest.(b) A term of a trust providing that the interest of a beneficiary is held subject to a "spendthrift trust", or words of similar import, is sufficient to restrain both voluntary and involuntary transfer of the beneficiary's interest.(c) A beneficiary may not transfer an interest in a trust in violation of a valid spendthrift provision and, except as otherwise provided in this Article, a creditor or assignee of the beneficiary may not reach the interest or a distribution by the trustee before its receipt by the beneficiary. (2005-192, s. 2.)
NC Gen Stat § 36C-5-503 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 5 - Creditors' Claims; Spendthrift and Discretionary Trusts.|§ 36C-5-503 - Exceptions to spendthrift provision.

 36C-5-503. Exceptions to spendthrift provision.(a) As used in this section, the term "child" includes any person for whom an order or judgment for child support has been entered in this or another state.(b) Even if a trust contains a spendthrift provision, or if the beneficiary's interest is a discretionary trust interest as defined in G.S. 36C-5-504(a)(2) or a protective trust interest as defined in G.S. 36C-5-508, a beneficiary's child who has a judgment or court order against the beneficiary for support or maintenance may obtain from a court an order attaching present or future distributions to or for the benefit of the beneficiary. The court may limit the award to relief that is appropriate under the circumstances. (2005-192, s. 2.)