reglab/housing_qa huggingface dataset:
SC Code § 62-7-607 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-607. Divorce or annulment as revoking revocable trust.

 If after executing a revocable trust the settlor is divorced or the marriage annulled or the spouse is a party to a valid proceeding concluded by an order purporting to terminate all marital property rights or confirming equitable distribution between spouses, the divorce or annulment or order revokes any disposition or appointment of property including beneficial interests made by such trust to the spouse, any provision conferring a general or special power of appointment on the spouse, and any nomination of the spouse as trustee, unless the trust expressly provides otherwise. Property prevented from passing to a spouse because of revocation by divorce or annulment or order passes as if the spouse failed to survive the settlor, and other provisions conferring some power or office on this spouse are interpreted as if the spouse failed to survive the settlor. If these provisions for the spouse are revoked solely by this section, they are revived by the settlor's remarriage to the former spouse. For purposes of this section, divorce or annulment or order means any divorce or annulment or order which would exclude the spouse as a surviving spouse within the meaning of subsections (a) and (b) of Section 62-2-802. A decree of separate maintenance which does not terminate the status of husband and wife is not a divorce for purposes of this section. No change of marital circumstances other than as described in this section revokes a disposition to a spouse in a revocable trust.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.  Effect of Amendment  The 2013 amendment substituted "If these provisions for the spouse" for "If provisions", in the third sentence; in the last sentence, deleted "or parental" before "change of marital" and inserted "a disposition to a spouse in" before "a revocable trust"; and made other nonsubstantive changes.
SC Code § 62-7-701 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-701. Accepting or declining trusteeship.

 (a) Except as otherwise provided in subsection (c), a person designated as trustee accepts the trusteeship:  (1) by substantially complying with a method of acceptance provided in the terms of the trust; or  (2) if the terms of the trust do not provide a method or the method provided in the terms is not expressly made exclusive, by accepting delivery of the trust property, exercising powers or performing duties as trustee, or otherwise indicating acceptance of the trusteeship.  (b) A person designated as trustee who has not yet accepted the trusteeship may reject the trusteeship. A designated trustee who does not accept the trusteeship within a reasonable time after knowing of the designation is deemed to have rejected the trusteeship.  (c) A person designated as trustee, without accepting the trusteeship, may:  (1) act to preserve the trust property if, within a reasonable time after acting, the person sends a rejection of the trusteeship to the settlor or, if the settlor is dead or lacks capacity, to a qualified beneficiary; and  (2) inspect or investigate trust property to determine potential liability under environmental or other law or for any other purpose.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-702 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-702. Trustee's bond.

 (a) A trustee shall provide bond to secure the performance of the trustee's duties if:  (1) the terms of the governing instrument require the trustee to provide bond;  (2) a beneficiary requests the trustee to provide bond and the court finds the request to be reasonable; or  (3) the court finds that it is necessary for the trustee to provide bond in order to protect the interests of the beneficiaries who are not able to protect themselves and whose interests otherwise are not adequately represented.  However, in no event shall bond be required of a trustee, including a trustee appointed by the court, if the governing instrument directs otherwise. On petition of the trustee or other interested person, the court may excuse a requirement of bond, reduce the amount of the bond, release the surety, or permit the substitution of another bond with the same or different sureties.  (b) If bond is required, it shall be filed in the court in the place in which the trust has its principal place of administration in amounts and with sureties and liabilities consistent with the requirements of South Carolina Code Sections 62-3-604 relating to bonds of personal representatives.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-703 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-703. Cotrustees.

 (a) Cotrustees who are unable to reach a unanimous decision may act by majority decision.  (b) If a vacancy occurs in a cotrusteeship, the remaining cotrustees may act for the trust.  (c) A cotrustee must participate in the performance of a trustee's function unless the cotrustee is unavailable to perform the function because of absence, illness, disqualification under other law, or other temporary incapacity or the cotrustee has properly delegated the performance of the function to another trustee.  (d) If a cotrustee is unavailable to perform duties because of absence, illness, disqualification under other law, or other temporary incapacity, and prompt action is necessary to achieve the purposes of the trust or to avoid injury to the trust property, the remaining cotrustee or a majority of the remaining cotrustees may act for the trust.  (e) A trustee may not delegate to a cotrustee the performance of a function the settlor reasonably expected the trustees to perform jointly. Unless a delegation was irrevocable, a trustee may revoke a delegation previously made.  (f) Except as otherwise provided in subsection (g), a trustee who does not join in an action of another trustee is not liable for the action.  (g) Each trustee shall exercise reasonable care to:  (1) prevent a cotrustee from committing a serious breach of trust; and  (2) compel a cotrustee to redress a serious breach of trust.  (h) A dissenting trustee who joins in an action at the direction of the majority of the trustees and who notified any cotrustee of the dissent at or before the time of the action is not liable for the action unless the action is a serious breach of trust.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-704 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-704. Vacancy in trusteeship; appointment of successor.

 (a) A vacancy in a trusteeship occurs if:  (1) a person designated as trustee rejects the trusteeship;  (2) a person designated as trustee cannot be identified or does not exist;  (3) a trustee resigns;  (4) a trustee is disqualified or removed;  (5) a trustee dies; or  (6) a guardian or conservator is appointed for an individual serving as trustee.  (b) If one or more cotrustees remain in office, a vacancy in a trusteeship need not be filled. A vacancy in a trusteeship must be filled if the trust has no remaining trustee.  (c) A vacancy in a trusteeship of a noncharitable trust that is required to be filled must be filled in the following order of priority:  (1) by a person designated in the terms of the trust to act as successor trustee;  (2) by a person appointed by unanimous agreement of the qualified beneficiaries; or  (3) by a person appointed by the court.  (d) A vacancy in a trusteeship of a charitable trust that is required to be filled must be filled in the following order of priority:  (1) by a person designated in the terms of the trust to act as successor trustee;  (2) by a person selected by the charitable organizations expressly designated to receive distributions under the terms of the trust if the Attorney General concurs in the selection; or  (3) by a person appointed by the court.  (e) Whether or not a vacancy in a trusteeship exists or is required to be filled, the court may appoint an additional trustee or special fiduciary whenever the court considers the appointment necessary for the administration of the trust. The procedure for such appointment and the notice requirement shall be the same as set forth for special administrators under South Carolina Code Section 62-3-614.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-705 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-705. Resignation of trustee.

 (a) A trustee may resign:  (1) upon at least 30 days notice in writing to the qualified beneficiaries, the settlor, if living, and all cotrustees; or  (2) with the approval of the court.  (b) In approving a resignation, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property.  (c) Any liability of a resigning trustee or of any sureties on the trustee's bond for acts or omissions of the trustee is not discharged or affected by the trustee's resignation.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-706 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-706. Removal of trustee.

 (a) For the reasons set forth in subsection (b), the settlor, a cotrustee, or a beneficiary may request the court to remove a trustee, or a trustee may be removed by the court on its own initiative.  (b) The court may remove a trustee if:  (1) the trustee has committed a serious breach of trust;  (2) lack of cooperation among cotrustees substantially impairs the administration of the trust;  (3) because of unfitness, unwillingness, or persistent failure of the trustee to administer the trust effectively, the court determines that removal of the trustee best serves the interests of the beneficiaries; or  (4) there has been a substantial change of circumstances or removal is requested by all of the qualified beneficiaries, the court finds that removal of the trustee best serves the interests of all of the beneficiaries and is not inconsistent with a material purpose of the trust, and a suitable cotrustee or successor trustee is available.  (c) Pending a final decision on a request to remove a trustee, or in lieu of or in addition to removing a trustee, the court may order such appropriate relief under Section 62-7-1001(b) as may be necessary to protect the trust property or the interests of the beneficiaries.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-707 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-707. Delivery of property by former trustee.

 (a) Unless a cotrustee remains in office or the court otherwise orders, and until the trust property is delivered to a successor trustee or other person entitled to it, a trustee who has resigned or been removed has the duties of a trustee and the powers necessary to protect the trust property.  (b) A trustee who has resigned or been removed shall proceed expeditiously to deliver the trust property within the trustee's possession to the cotrustee, successor trustee, or other person entitled to it.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-708 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-708. Compensation of trustee.

 (a) If the terms of a trust do not specify the trustee's compensation, a trustee is entitled to compensation that is reasonable under the circumstances.  (b) If the terms of a trust specify the trustee's compensation, the trustee is entitled to be compensated as specified, but the court may allow more or less compensation if:  (1) the duties of the trustee are substantially different from those contemplated when the trust was created; or  (2) the compensation specified by the terms of the trust would be unreasonably low or high.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-709 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-709. Reimbursement of expenses.

 (a) A trustee is entitled to be reimbursed out of the trust property, with interest at the legal rate as appropriate, for:  (1) expenses that were properly incurred in the administration of the trust; and  (2) to the extent necessary to prevent unjust enrichment of the trust, expenses that were not properly incurred in the administration of the trust.  (b) An advance by the trustee of money for the protection of the trust gives rise to a lien against trust property to secure reimbursement with reasonable interest.  (c) A prospective trustee is entitled to be reimbursed from trust property for expenses reasonably incurred by the prospective trustee pursuant to Section 62-7-701(c) to protect or investigate the trust assets before deciding whether or not to accept the trusteeship.  HISTORY: 2005 Act No. 66, Section 1; 2010 Act No. 244, Section 52, eff June 7, 2010; 2013 Act No. 100, Section 2, eff January 1, 2014.  Effect of Amendment  The 2010 amendment added subsection (c) relating to reimbursement of prospective trustees for certain expenses.
SC Code § 62-7-801 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-801. Duty to administer trust.

 Upon acceptance of a trusteeship, the trustee shall administer the trust in good faith, in accordance with its terms and purposes and the interests of the beneficiaries, and in accordance with this article.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-803 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-803. Impartiality.

 If a trust has two or more beneficiaries, the trustee shall act impartially in investing, managing, and distributing the trust property, giving due regard to the beneficiaries' respective interests.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-804 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-804. Prudent administration.

 A trustee shall administer the trust as a prudent person would, by considering the purposes, terms, distributional requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill, and caution.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-805 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-805. Costs of administration.

 In administering a trust, the trustee may incur only costs that are reasonable in relation to the trust property, the purposes of the trust, and the skills of the trustee.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-806 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-806. Trustee's skills.

 A trustee who has special skills or expertise, or is named trustee in reliance upon the trustee's representation that the trustee has special skills or expertise, shall use those special skills or expertise.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-807 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-807. Delegation by trustee.

 (a) A trustee may delegate duties and powers that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustee shall exercise reasonable care, skill, and caution in:  (1) selecting an agent;  (2) establishing the scope and terms of the delegation, consistent with the purposes and terms of the trust; and  (3) periodically reviewing the agent's actions in order to monitor the agent's performance and compliance with the terms of the delegation.  (b) In performing a delegated function, an agent owes a duty to the trust to exercise reasonable care to comply with the terms of the delegation.  (c) A trustee who complies with subsection (a) is not liable to the beneficiaries or to the trust for an action of the agent to whom the function was delegated.  (d) By accepting a delegation of powers or duties from the trustee of a trust that is subject to the law of this State, an agent submits to the jurisdiction of the courts of this State.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-808 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-808. Powers to direct.

 (a) While a trust is revocable, the trustee may follow a direction of the settlor that is contrary to the terms of the trust.  (b) If the terms of a trust confer upon a person other than the settlor of a revocable trust power to direct certain actions of the trustee, the trustee shall act in accordance with an exercise of the power unless the attempted exercise is manifestly contrary to the terms of the trust or the trustee knows the attempted exercise would constitute a serious breach of a fiduciary duty that the person holding the power owes to the beneficiaries of the trust.  (c) The terms of a trust may confer upon a trustee or other person a power to direct the modification or termination of the trust.  (d) A person, other than a beneficiary, who holds a power to direct is presumptively a fiduciary who, as such, is required to act in good faith with regard to the purposes of the trust and the interests of the beneficiaries. The holder of a power to direct is liable for any loss that results from breach of a fiduciary duty.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-809 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-809. Control and protection of trust property.

 A trustee shall take reasonable steps to take control of and protect the trust property.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-810 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-810. Recordkeeping and identification of trust property.

 (a) A trustee shall keep adequate records of the administration of the trust.  (b) A trustee shall keep trust property separate from the trustee's own property.  (c) Except as otherwise provided in subsection (d), a trustee shall cause the trust property to be designated so that the interest of the trust, to the extent feasible, appears in records maintained by a party other than a trustee or beneficiary.  (d) If the trustee maintains records clearly indicating the respective interests, a trustee may invest as a whole the property of two or more separate trusts.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-811 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-811. Enforcement and defense of claims.

 A trustee shall take reasonable steps to enforce claims of the trust and to defend claims against the trust.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.
SC Code § 62-7-812 (2021)
2021 South Carolina Code of Laws|Title 62 - South Carolina Probate Code|Article 7 - South Carolina Trust Code|Section 62-7-812. Exercise of powers by successor trustees; liability.

 Unless directed otherwise by the court or by the trust instrument, a successor trustee appointed by the court or by the trust instrument succeeds to all the powers, duties, and discretionary authority given to the predecessor trustee. Upon reasonable request, a successor trustee is entitled to a statement of the accounts of the trust from a predecessor trustee. A successor trustee may accept the account rendered and shall be under no duty to examine the acts or omissions of the predecessor trustee and shall not be liable for failure to seek redress for any act or omission of the predecessor trustee. The trustee of a testamentary trust may accept the account rendered by a personal representative and shall be under no duty to examine the acts or omissions of the predecessor personal representative and shall not be liable for failure to seek redress for any act or omission of the predecessor personal representative.  HISTORY: 2005 Act No. 66, Section 1; 2013 Act No. 100, Section 2, eff January 1, 2014.