reglab/housing_qa huggingface dataset:
TN Code § 35-15-605 (2021)
2021 Tennessee Code|Title 35 - Fiduciaries and Trust Estates|Chapter 15 - Tennessee Uniform Trust Code|Part 6 - Revocable Trusts|§ 35-15-605. Written Statement or List to Dispose of Items of Tangible Personal Property

   A revocable (living) trust that becomes irrevocable upon the death of its settlor may refer to a written statement or list to dispose of items of tangible personal property not otherwise specifically disposed of by the revocable trust, other than money, evidences of indebtedness, documents of title, securities, and property used in a trade or business.   To be effective under this section as evidence of the intended disposition, the writing:  Must:   Be either in the handwriting of the settlor or signed by the settlor;   Be dated; and   Describe the items and the beneficiaries with reasonable certainty;     May be prepared before or after the execution of the revocable trust;   May be altered by the settlor after its preparation, provided that the settlor signs and dates the alteration; and   May be a writing that has no significance apart from its effect upon the dispositions made by the revocable trust.     If more than one (1) otherwise effective writings exist or a single writing contains properly signed and dated alterations, the provisions of the most recent writing or alteration revoke any inconsistent provisions of all prior writings.     A trustee is not liable for any distribution of tangible personal property to the apparent beneficiary under the settlor's revocable trust without actual knowledge of the written statement or list, as described in subsection (a), and the trustee has no duty to recover property distributed without knowledge of the written statement or list.
TN Code § 35-15-701 (2021)
2021 Tennessee Code|Title 35 - Fiduciaries and Trust Estates|Chapter 15 - Tennessee Uniform Trust Code|Part 7 - Office of Trustee|§ 35-15-701. Accepting or Declining Trusteeship

  Except as otherwise provided in subsection (c), a person designated as trustee accepts the trusteeship:  By substantially complying with a method of acceptance provided in the terms of the trust; or   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.     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 and the assets comprising the trust is deemed to have rejected the trusteeship.   A person designated as trustee, without accepting the trusteeship, may:  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   Inspect or investigate trust property to determine potential liability under environmental or other law or for any other purpose.
TN Code § 35-15-702 (2021)
2021 Tennessee Code|Title 35 - Fiduciaries and Trust Estates|Chapter 15 - Tennessee Uniform Trust Code|Part 7 - Office of Trustee|§ 35-15-702. Trustee's Bond

  A trustee shall give bond to secure performance of the trustee's duties only if the court finds that a bond is needed to protect the interests of the beneficiaries or is required by the terms of the trust and the court has not dispensed with the requirement.   The court may specify the amount of a bond, its liabilities, and whether sureties are necessary. The court may modify or terminate a bond at any time.   A state or national bank, savings institution, or trust company authorized to exercise fiduciary powers and regulated by the office of the comptroller of the currency, office of thrift supervision, the department of financial institutions or equivalent state banking supervisors need not give bond, even if required by the terms of the trust.
TN Code § 35-15-703 (2021)
2021 Tennessee Code|Title 35 - Fiduciaries and Trust Estates|Chapter 15 - Tennessee Uniform Trust Code|Part 7 - Office of Trustee|§ 35-15-703. Cotrustees

  Cotrustees who are unable to reach a unanimous decision may act by majority decision.   If a vacancy occurs in a cotrusteeship, the remaining cotrustees may act for the trust.   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.   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.   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.   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.   Each trustee shall exercise reasonable care to:  Prevent a cotrustee from committing a serious breach of trust; and   Compel a cotrustee to redress a serious breach of trust.     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.   A trustee shall keep each cotrustee and any other fiduciary reasonably informed about the administration of the trust, to the extent the trustee has knowledge that each such cotrustee or other fiduciary does not have such knowledge of the trustee's actions, or regarding other material information or the availability of such information, related to the administration of the trust that would be reasonably necessary for each such cotrustee or other fiduciary to perform such person's duties as a trustee or other fiduciary of the trust.
TN Code § 35-15-704 (2021)
2021 Tennessee Code|Title 35 - Fiduciaries and Trust Estates|Chapter 15 - Tennessee Uniform Trust Code|Part 7 - Office of Trustee|§ 35-15-704. Vacancy in Trusteeship — Appointment of Successor

  A vacancy in a trusteeship occurs if:  A person designated as trustee rejects the trusteeship;   A person designated as trustee cannot be identified or does not exist;   A trustee resigns;   A trustee is disqualified or removed;   A trustee dies; or   A conservator is appointed for an individual serving as trustee.     If one (1) 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.   A vacancy in a trusteeship of a noncharitable trust that is required to be filled must be filled in the following order of priority:  By a person designated in the terms of the trust to act as successor trustee;   By a person appointed by unanimous agreement of the qualified beneficiaries; or   By a person appointed by the court.     A vacancy in a trusteeship of a charitable trust that is required to be filled must be filled in the following order of priority:  By a person designated in the terms of the trust to act as successor trustee;   By a person selected by the charitable organizations expressly designated to receive distributions under the terms of the trust if the attorney general does not affirmatively object within thirty (30) days of receipt of notice of the person selected; or   By a person appointed by the court.     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.
TN Code § 35-15-705 (2021)
2021 Tennessee Code|Title 35 - Fiduciaries and Trust Estates|Chapter 15 - Tennessee Uniform Trust Code|Part 7 - Office of Trustee|§ 35-15-705. Resignation of Trustee

  A trustee may resign:  Upon at least thirty (30) days' notice to the qualified beneficiaries, the settlor, if living, and all cotrustees; or   With the approval of the court.     In approving a resignation, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property.   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.
TN Code § 35-15-706 (2021)
2021 Tennessee Code|Title 35 - Fiduciaries and Trust Estates|Chapter 15 - Tennessee Uniform Trust Code|Part 7 - Office of Trustee|§ 35-15-706. Removal of Trustee

  The settlor, a cotrustee, or a qualified beneficiary may request the court to remove a trustee, or a trustee may be removed by the court on its own initiative.   The court may remove a trustee if:  The trustee has committed a serious breach of trust;   Lack of cooperation among cotrustees substantially impairs the administration of the trust;   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   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.     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 § 35-15-1001(b) as may be necessary to protect the trust property or the interests of the beneficiaries.
TN Code § 35-15-707 (2021)
2021 Tennessee Code|Title 35 - Fiduciaries and Trust Estates|Chapter 15 - Tennessee Uniform Trust Code|Part 7 - Office of Trustee|§ 35-15-707. Delivery of Property by Former Trustee — Petition for Approval of Accountings and Release and Discharge From Liability

  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.   A trustee who has resigned or been removed shall, within a reasonable time, deliver the trust property within the trustee's possession to the cotrustee, successor trustee, or other person entitled to it.   Prior to delivering the trust property within the trustee's possession to the co-trustee, successor trustee, or other person entitled to it, a trustee who has resigned or been removed shall have the right and authority to petition the court for approval of its accountings and a release and discharge from all liability related to such trust as allowed under § 35-15-205.
TN Code § 35-15-708 (2021)
2021 Tennessee Code|Title 35 - Fiduciaries and Trust Estates|Chapter 15 - Tennessee Uniform Trust Code|Part 7 - Office of Trustee|§ 35-15-708. Compensation of Trustees, Trust Advisors and Trust Protectors

  If the terms of a trust do not specify a trustee's, trust advisor's or trust protector's compensation, and if the settlor, if living, or otherwise a majority of the qualified beneficiaries as defined in §  35-15-103(24)(A), have not otherwise agreed, a trustee, trust advisor or trust protector is entitled to compensation that is reasonable under the circumstances.   If the terms of a trust specify a trustee's, trust advisor's or trust protector's compensation, the trustee, trust advisor or trust protector is entitled to be compensated as specified in the trust, but the court may allow more or less compensation if:  The duties of the trustee, trust advisor or trust protector are substantially different from those contemplated when the trust was created; or   The compensation specified by the terms of the trust would be unreasonably low or high.     Factors for the court to consider in deciding upon a trustee's, trust advisor's or trust protector's compensation shall include the size of the trust, the nature and number of the assets, the income produced, the time and responsibility required, the expertise required, any management or sale of real property or closely held business interests, any involvement in litigation to protect trust property, and other relevant factors.   Subject to the court's authority as provided in subsection (b), regardless of its form of entity, the fees set forth in the published fee schedule of a trustee, trust advisor or trust protector that is regulated by the department of financial institutions, the equivalent regulatory agency of another state, the office of the comptroller of the currency or the office of thrift supervision shall be presumed to be reasonable, unless otherwise provided by the terms of the trust.
TN Code § 35-15-709 (2021)
2021 Tennessee Code|Title 35 - Fiduciaries and Trust Estates|Chapter 15 - Tennessee Uniform Trust Code|Part 7 - Office of Trustee|§ 35-15-709. Reimbursement of Expenses

  A trustee, trust advisor or trust protector is entitled to be reimbursed out of the trust property, with interest as appropriate, for:  Expenses that were properly incurred in the administration of the trust; and   To the extent necessary to prevent unjust enrichment of the trust, expenses that were not properly incurred in the administration of the trust.     An advance, either by the trustee, trust advisor or trust protector or by a person named in § 35-15-701(c)(1), of money for the protection of the trust gives rise to a lien against trust property to secure reimbursement with reasonable interest.
TN Code § 35-15-710 (2021)
2021 Tennessee Code|Title 35 - Fiduciaries and Trust Estates|Chapter 15 - Tennessee Uniform Trust Code|Part 7 - Office of Trustee|§ 35-15-710. Directed Trusts

 If the terms of the trust, an agreement of the qualified beneficiaries, or a court order requires a trustee, trust advisor, or trust protector to follow the direction of a trust advisor or trust protector, and the trustee, trust advisor, or trust protector acts in accordance with such direction, then the trustee, trust advisor, or trust protector so directed shall be treated as an excluded fiduciary.   2013 RESTATED COMMENTS TO OFFICIAL TEXT
TN Code § 35-15-711 (2021)
2021 Tennessee Code|Title 35 - Fiduciaries and Trust Estates|Chapter 15 - Tennessee Uniform Trust Code|Part 7 - Office of Trustee|§ 35-15-711. Directed Trusts; Accepting or Declining Fiduciary Appointment

  A trust advisor, trust protector or other fiduciary other than a cotrustee, such cotrustee already being provided for in § 35-15-701(a), may accept its appointment as such respective fiduciary in a like manner as provided for a trustee under § 35-15-701(a).   A trust advisor, trust protector or other fiduciary other than a cotrustee, such cotrustee already being provided for in § 35-15-701(b), may reject its appointment as such respective fiduciary in a like manner as provided for a trustee under § 35-15-701(b).   A trust advisor, trust protector or other fiduciary other than a cotrustee, such cotrustee already being provided for in § 35-15-701(c), may, without accepting its appointment as such respective fiduciary, carry out the appropriate activities relative to such respective fiduciary as are provided for a trustee under § 35-15-701(c).
TN Code § 35-15-712 (2021)
2021 Tennessee Code|Title 35 - Fiduciaries and Trust Estates|Chapter 15 - Tennessee Uniform Trust Code|Part 7 - Office of Trustee|§ 35-15-712. Directed Trusts; Fiduciary's Bond

  Section 35-15-702 applies to trust advisors, trust protectors or other fiduciaries other than cotrustees, such cotrustees already being provided for in § 35-15-702.   When exercising its powers under this section, the court shall consider the powers, duties and liabilities relative to such respective fiduciaries other than a cotrustee and whether any of such respective fiduciaries are excluded fiduciaries.    2013 RESTATED COMMENTS TO OFFICIAL TEXT
TN Code § 35-15-713 (2021)
2021 Tennessee Code|Title 35 - Fiduciaries and Trust Estates|Chapter 15 - Tennessee Uniform Trust Code|Part 7 - Office of Trustee|§ 35-15-713. Vacancy; Directed Trusts

  Except as otherwise provided by the terms of the trust upon obtaining knowledge of a vacancy in the office of trust advisor or trust protector, the trustee shall be vested with any fiduciary power or duty that otherwise would be vested in the trustee but that by the terms of the trust was vested in the trust advisor or trust protector, until such time that the vacancy in the office of trust advisor or trust protector, as applicable is filled.   Such vacancy shall be filled in the same manner as would a vacancy in trusteeship that is required to be filled, either as provided by § 35-15-704(c) if the trust is a noncharitable trust, or as provided by § 35-15-704(d) if the trust is a charitable trust. Section 35-15-704(e) shall also apply relative to trust advisors and trust protectors in the same manner as that subsection does to trustees and vacancies in trusteeship.   Notwithstanding subsection (a), a trustee shall not be liable for failing to exercise or assume any power or duty held by a trust advisor or trust protector and conferred upon the trustee by subsection (a) for the sixty-day period immediately following the date the trustee obtains knowledge of such vacancy.
TN Code § 35-15-714 (2021)
2021 Tennessee Code|Title 35 - Fiduciaries and Trust Estates|Chapter 15 - Tennessee Uniform Trust Code|Part 7 - Office of Trustee|§ 35-15-714. Directed Trusts; Resignation of Fiduciary

  A trust advisor, trust protector or other fiduciary other than a cotrustee, such cotrustee's resignation already being provided for in § 35-15-705, may resign its appointment as such respective fiduciary in a like manner as provided for a trustee under § 35-15-705.   When exercising its powers under this section relative to resignation, the court shall consider the powers, duties and liabilities relative to such respective fiduciaries other than a cotrustee and whether any of such respective fiduciaries are excluded fiduciaries.    2013 RESTATED COMMENTS TO OFFICIAL TEXT
TN Code § 35-15-715 (2021)
2021 Tennessee Code|Title 35 - Fiduciaries and Trust Estates|Chapter 15 - Tennessee Uniform Trust Code|Part 7 - Office of Trustee|§ 35-15-715. Directed Trusts; Removal of Fiduciary

  A trust advisor, trust protector or other fiduciary other than a cotrustee, such cotrustee's removal already being provided for in § 35-15-706, may be removed as such respective fiduciary in a like manner as provided for a trustee under § 35-15-706.   When exercising its powers under this section relative to removal of such respective fiduciary, the court shall consider the powers, duties and liabilities relative to such respective fiduciaries other than a cotrustee and whether any of such respective fiduciaries are excluded fiduciaries.
TN Code § 35-15-801 (2021)
2021 Tennessee Code|Title 35 - Fiduciaries and Trust Estates|Chapter 15 - Tennessee Uniform Trust Code|Part 8 - Duties and Powers of Trustee|§ 35-15-801. Duty to Administer Trust

 Upon acceptance of a trusteeship, the trustee shall administer the trust until such time as the trust terminates or a successor trustee is appointed and all assets are delivered in good faith, in accordance with its terms and purposes and the interests of the beneficiaries, and in accordance with this chapter.
TN Code § 35-15-803 (2021)
2021 Tennessee Code|Title 35 - Fiduciaries and Trust Estates|Chapter 15 - Tennessee Uniform Trust Code|Part 8 - Duties and Powers of Trustee|§ 35-15-803. Impartiality

 If a trust has two (2) or more beneficiaries, the trustee shall act impartially in investing, managing, and distributing the trust property, giving due regard to the beneficiaries' respective interests.
TN Code § 35-15-804 (2021)
2021 Tennessee Code|Title 35 - Fiduciaries and Trust Estates|Chapter 15 - Tennessee Uniform Trust Code|Part 8 - Duties and Powers of Trustee|§ 35-15-804. 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.
TN Code § 35-15-805 (2021)
2021 Tennessee Code|Title 35 - Fiduciaries and Trust Estates|Chapter 15 - Tennessee Uniform Trust Code|Part 8 - Duties and Powers of Trustee|§ 35-15-805. 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.
TN Code § 35-15-806 (2021)
2021 Tennessee Code|Title 35 - Fiduciaries and Trust Estates|Chapter 15 - Tennessee Uniform Trust Code|Part 8 - Duties and Powers of Trustee|§ 35-15-806. 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.
TN Code § 35-15-807 (2021)
2021 Tennessee Code|Title 35 - Fiduciaries and Trust Estates|Chapter 15 - Tennessee Uniform Trust Code|Part 8 - Duties and Powers of Trustee|§ 35-15-807. Delegation by Trustee

  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:  Selecting an agent;   Establishing the scope and terms of the delegation, consistent with the purposes and terms of the trust; and   Periodically reviewing the agent's actions in order to monitor the agent's performance and compliance with the terms of the delegation.     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.   A trustee who complies with subsection (a) is not liable to the beneficiaries for any act performed or omitted pursuant to written directions or to the trust for an action of the agent to whom the function was delegated.   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.
TN Code § 35-15-809 (2021)
2021 Tennessee Code|Title 35 - Fiduciaries and Trust Estates|Chapter 15 - Tennessee Uniform Trust Code|Part 8 - Duties and Powers of Trustee|§ 35-15-809. Control and Protection of Trust Property

 A trustee shall take reasonable steps to take control of and protect the trust property.