reglab/housing_qa huggingface dataset:
MI Comp L § 700.7606 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article VII - Michigan Trust Code (700.7101...700.7913)|386-1998-VII-6 - Part 6 Revocable Trusts (700.7601...700.7615)|Section 700.7606 - Payment of Expenses and Obligations of Settlor's Estate; Duty of Trustee.

700.7606 Payment of expenses and obligations of settlor's estate; duty of trustee.Sec. 7606.  (1) A trustee of a trust described in section 7605(1) shall pay to the personal representative of the settlor's estate the amount that the personal representative certifies in writing to the trustee is required to pay the administration expenses of the settlor's estate; an enforceable and timely presented claim of a creditor of the settlor, including a claim for the settlor's funeral and burial expenses; and homestead, family, and exempt property allowances. The trustee may rely on the certificate of the personal representative without liability to a trust beneficiary or another party. If a personal representative is not appointed for the settlor's estate, the trustee shall pay directly to the creditor an enforceable and timely served claim of a creditor of the settlor, including a claim for the settlor's funeral and burial expenses. If a personal representative is not appointed for the settlor's estate within 4 months after the date of the publication of notice to creditors, a trust described in section 7605(1) is not liable for payment of homestead, family, or exempt property allowances. A payment made by a trustee is subject to this section, but the payment shall be made exclusively out of property, or the proceeds of property, that is includable in the settlor's gross estate for federal estate tax purposes, other than assets described in section 7605(2) to (4).  (2) Subject to section 7607, unless a settlor provides in his or her will or, in the absence of such a provision, designates in the trust the money or property passing under a trust to be used as described in section 7605(1), the administration expenses of the settlor's estate; an enforceable and timely filed claim of a creditor of the settlor, including a claim for the settlor's funeral and burial expenses; or homestead, family, and exempt property allowances, to be paid in accordance with subsection (1), shall be paid from the property of the trust in the following order:  (a) Property of the trust residue remaining after all distributions that are to be satisfied by reference to a specific property or type of property, fund, money, or statutory amount.  (b) Property that is not to be distributed out of specified or identified property or a specified or identified item of property.  (c) Property that is to be distributed out of specified or identified property or a specified or identified item of property. History: Add. 2009, Act 46, Eff. Apr. 1, 2010 Popular Name: EPIC
MI Comp L § 700.7608 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article VII - Michigan Trust Code (700.7101...700.7913)|386-1998-VII-6 - Part 6 Revocable Trusts (700.7601...700.7615)|Section 700.7608 - Duty of Trustee to Give Notice.

700.7608 Duty of trustee to give notice.Sec. 7608.  If there is no personal representative of the settlor's estate to whom letters of administration have been issued so that the publication and notice requirements of section 3801 have not been discharged, each trustee of a trust described in section 7605(1) shall publish and serve a notice to creditors in the same manner, with the same duties, and with the same protection for the trustee and the attorney for the trustee as described in section 3801 for a personal representative. The notice shall comply with applicable court rules and contain the name of the trust's deceased settlor; the trust's name or other designation, if any; the date the trust was established; the name and address of each trustee serving at the time of or as a result of the settlor's death; and the name and address of the trustee's attorney, if any. The notice shall state the date of publication. History: Add. 2009, Act 46, Eff. Apr. 1, 2010 Popular Name: EPIC
MI Comp L § 700.7609 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article VII - Michigan Trust Code (700.7101...700.7913)|386-1998-VII-6 - Part 6 Revocable Trusts (700.7601...700.7615)|Section 700.7609 - Presentation of Claims Against Trust.

700.7609 Presentation of claims against trust.Sec. 7609.  (1) Subject to section 7611, if notice to claimants is given by a trustee as provided in section 7608, a claimant shall present a claim against a trust described in section 7605(1) in either of the following ways:  (a) The claimant may mail or deliver to the trustee a written statement of the claim indicating its basis, the name and address of the claimant, and the amount claimed. The claim is considered presented on the trustee's receipt of the claim. If a claim is not yet due, the date when it will become due shall be stated. If the claim is contingent or unliquidated, the nature of the uncertainty shall be stated. If the claim is secured, the security shall be described. Failure to describe correctly the security, the nature of any uncertainty, and the due date of a claim not yet due does not invalidate a claim's presentation.  (b) The claimant may commence a proceeding to obtain payment of a claim against the trust in a court where the trustee is subject to jurisdiction. The commencement of the proceeding shall occur within the time limit for presenting the claim. Presentation of a claim is not required in regard to matters claimed in proceedings against the trust or settlor that were pending at the time of the settlor's death.  (2) If a personal representative is appointed for the settlor's estate, presentation of a claim against the settlor's estate shall be made in the manner described in section 3804, and such a presentation is sufficient to assert liability against a trust described in section 7605(1) without an additional presentation of the claim against the trustee. History: Add. 2009, Act 46, Eff. Apr. 1, 2010 Popular Name: EPIC
MI Comp L § 700.7610 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article VII - Michigan Trust Code (700.7101...700.7913)|386-1998-VII-6 - Part 6 Revocable Trusts (700.7601...700.7615)|Section 700.7610 - Presentation of Claims to Assert Liability; Time Limitation; Exceptions.

700.7610 Presentation of claims to assert liability; time limitation; exceptions.Sec. 7610.  (1) Subject to section 7611, if not barred earlier by another statute of limitations, a claim against the settlor of a trust described in section 7606(1) that arose at or before the settlor's death that a person seeks to recover from the trust is barred against the trust, each trustee of the trust, and a trust beneficiary, unless presented within 1 of the following times:  (a) If notice is given in compliance either with section 3801 or section 7608, within 4 months after the date of publication of notice to creditors.  (b) For a creditor known to the personal representative at the time of publication or during the 4 months following publication, or known to the trustee at or during such a time if publication occurred under section 7608, within 28 days after the subsequent sending of notice or 4 months after the date of publication of notice to creditors, whichever is later.  (c) If the notice requirements of either section 3801 or section 7608 are not met, within 3 years after the settlor's death.  (2) This section does not affect or prevent any of the following:  (a) A proceeding to enforce a mortgage, pledge, or other lien upon property held in the trust.  (b) A proceeding to establish the settlor's or the trustee's liability for which the settlor or the trustee is protected by liability insurance to the limits of the insurance protection only.  (c) Collection of compensation for services rendered and reimbursement of expenses advanced by the trustee or by an attorney, auditor, investment adviser, or other specialized agent or assistant for the trustee. History: Add. 2009, Act 46, Eff. Apr. 1, 2010 Popular Name: EPIC
MI Comp L § 700.7612 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article VII - Michigan Trust Code (700.7101...700.7913)|386-1998-VII-6 - Part 6 Revocable Trusts (700.7601...700.7615)|Section 700.7612 - Payment of Claims by Trustee.

700.7612 Payment of claims by trustee.Sec. 7612.  (1) Upon the expiration of 4 months after the date of the publication of the notice to creditors, the trustee shall proceed to pay the claims allowed against the trust in the order of priority prescribed in section 7607(2)(f) to (i), after making provision for costs and expenses of trust administration, for reasonable funeral and burial expenses, for each claim already presented that is not yet allowed or whose allowance is appealed, and for each unbarred claim that may yet be presented. A claimant whose claim is allowed, but not paid as provided in this section, may petition the court to secure an order directing the trustee to pay the claim to the extent that money of the trust is available for the payment.  (2) At any time, the trustee may pay a claim that is not barred, with or without formal presentation, but is individually liable to another claimant whose claim is allowed and who is injured by the payment if either of the following occurs:  (a) Payment is made before the expiration of the time limit stated in subsection (1) and the trustee fails to require the payee to give adequate security for the refund of any of the payment necessary to pay another claimant.  (b) Payment is made, due to the negligence or willful fault of the trustee, in a manner that deprives the injured claimant of priority.  (3) If a claim is allowed but the whereabouts of the claimant is unknown at the time the trustee attempts to pay the claim, upon petition by the trustee and after notice the court considers advisable, the court may disallow the claim. If the court disallows a claim under this subsection, the claim is barred. History: Add. 2009, Act 46, Eff. Apr. 1, 2010 Popular Name: EPIC
MI Comp L § 700.7613 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article VII - Michigan Trust Code (700.7101...700.7913)|386-1998-VII-6 - Part 6 Revocable Trusts (700.7601...700.7615)|Section 700.7613 - Secured Claims; Payment; Basis.

700.7613 Secured claims; payment; basis.Sec. 7613.  Payment of a secured claim shall be upon the basis of the amount allowed if the creditor surrenders the security. Otherwise, payment shall be upon the basis of 1 of the following:  (a) If the creditor exhausts the security before receiving payment, upon the claim amount allowed less the fair value of the security.  (b) If the creditor does not have the right to exhaust the security or does not do so, upon the claim amount allowed less the value of the security as determined by converting it into money according to the terms of the agreement under which the security is delivered to the creditor, or as determined by the creditor and trustee by agreement, arbitration, compromise, or litigation. History: Add. 2009, Act 46, Eff. Apr. 1, 2010 Popular Name: EPIC
MI Comp L § 700.7614 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article VII - Michigan Trust Code (700.7101...700.7913)|386-1998-VII-6 - Part 6 Revocable Trusts (700.7601...700.7615)|Section 700.7614 - Claims Due at Future Time, Contingent Claim, or Unliquidated Claim.

700.7614 Claims due at future time, contingent claim, or unliquidated claim.Sec. 7614.  A claim that will become due at a future time, a contingent claim, or an unliquidated claim is governed by the following:  (a) If a claim becomes due or certain before the distribution of the trust, and if the claim is allowed or established by a proceeding, the claim shall be paid in the same manner as presently due and absolute claims of the same class.  (b) For a claim not covered by subdivision (a), the trustee or, on petition of the trustee or the claimant in a proceeding for the purpose, the court may provide for payment as follows:  (i) If the claimant consents, the claimant may be paid the present or agreed value of the claim, taking any uncertainty into account.  (ii) Arrangement for future payment, or possible payment, on the happening of the contingency or on liquidation may be made by creating a trust, giving a mortgage, obtaining a bond or security from a distributee, or otherwise. History: Add. 2009, Act 46, Eff. Apr. 1, 2010 Popular Name: EPIC
MI Comp L § 700.7615 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article VII - Michigan Trust Code (700.7101...700.7913)|386-1998-VII-6 - Part 6 Revocable Trusts (700.7601...700.7615)|Section 700.7615 - Counterclaims of Trustee.

700.7615 Counterclaims of trustee.Sec. 7615.  In allowing a claim, the trustee may deduct a counterclaim that the trustee has against the claimant. In determining a claim against a trust, the court shall reduce the amount allowed by the amount of a counterclaim and, if the total counterclaims exceed the claim, render a judgment against the claimant in the amount of the excess. A counterclaim, liquidated or unliquidated, may arise from a transaction other than that upon which the claim is based. A counterclaim may give rise to relief exceeding in amount or different in kind from that sought in the claim. History: Add. 2009, Act 46, Eff. Apr. 1, 2010 Popular Name: EPIC
MI Comp L § 700.7701 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article VII - Michigan Trust Code (700.7101...700.7913)|386-1998-VII-7 - Part 7 Office of Trustee (700.7701...700.7709)|Section 700.7701 - Acceptance or Rejection of Trusteeship.

700.7701 Acceptance or rejection of trusteeship.Sec. 7701.  (1) Except as otherwise provided in subsection (3), a person designated as trustee accepts the trusteeship by doing either of the following:  (a) Substantially complying with a method of acceptance provided in the terms of the trust.  (b) If the terms of the trust do not provide a method or the method provided in the terms is not expressly made exclusive, accepting delivery of the trust property, exercising powers or performing duties as trustee, or otherwise indicating acceptance of the trusteeship.  (2) 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.  (3) A person designated as trustee, without accepting the trusteeship, may do all of the following:  (a) 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 trust beneficiary.  (b) Exercise all powers set forth under section 7818(1)(a).  (c) Inspect or investigate trust property to determine potential liability under other law or for any other purpose. History: Add. 2009, Act 46, Eff. Apr. 1, 2010 Popular Name: EPIC
MI Comp L § 700.7702 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article VII - Michigan Trust Code (700.7101...700.7913)|386-1998-VII-7 - Part 7 Office of Trustee (700.7701...700.7709)|Section 700.7702 - Trustee's Bond.

700.7702 Trustee's bond.Sec. 7702.  (1) 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 trust beneficiaries or is required by the terms of the trust and the court has not dispensed with the requirement.  (2) 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.  (3) A financial institution qualified to do trust business in this state need not give bond, even if required by the terms of the trust. History: Add. 2009, Act 46, Eff. Apr. 1, 2010 Popular Name: EPIC
MI Comp L § 700.7704 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article VII - Michigan Trust Code (700.7101...700.7913)|386-1998-VII-7 - Part 7 Office of Trustee (700.7701...700.7709)|Section 700.7704 - Vacancy in Trusteeship; Manner of Filling; Priority; Appointment by Court of Additional Trustee or Fiduciary; Definitions.

700.7704 Vacancy in trusteeship; manner of filling; priority; appointment by court of additional trustee or fiduciary; definitions.Sec. 7704.  (1) A vacancy in a trusteeship occurs if 1 or more of the following occur:  (a) A person designated as trustee rejects the trusteeship.  (b) A person designated as trustee cannot be identified or does not exist.  (c) A trustee resigns.  (d) A trustee is disqualified or removed.  (e) A trustee dies.  (f) A guardian or conservator is appointed for an individual serving as trustee.  (2) If 1 or more cotrustees remain in office, a vacancy in a trusteeship need not be filled. Though any separate trustee may comprise a cotrusteeship, the relation between respective separate trustees serving under a given separate trustees provision is not itself a cotrusteeship. A vacancy in a trusteeship must be filled if the vacancy leaves either of the following:  (a) A trust that is not subject to a separate trustees provision as of the time of the vacancy without any remaining trustee.  (b) Any of the several separate trusteeships governed by an operative separate trustees provision without any remaining trustee.  (3) If a vacancy in a trusteeship of a noncharitable trust is to be filled, the vacancy must be filled in the following order of priority:  (a) In the manner designated by the terms of the trust.  (b) By a person appointed by the court.  (4) If a vacancy in a trusteeship of a charitable trust is to be filled, the vacancy must be filled in the following order of priority:  (a) In the manner designated by the terms of the trust.  (b) 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.  (c) By a person appointed by the court.  (5) 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 upon the showing of good cause.  (6) As used in this section, "cotrusteeship", "separate trustee", "separate trustees provision", and "separate trusteeship" mean those terms as defined in section 7703b. History: Add. 2009, Act 46, Eff. Apr. 1, 2010 ;-- Am. 2018, Act 662, Eff. Mar. 29, 2019 Popular Name: EPIC
MI Comp L § 700.7705 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article VII - Michigan Trust Code (700.7101...700.7913)|386-1998-VII-7 - Part 7 Office of Trustee (700.7701...700.7709)|Section 700.7705 - Resignation of Trustee; Circumstances; Issuance of Orders and Conditions; Liability.

700.7705 Resignation of trustee; circumstances; issuance of orders and conditions; liability.Sec. 7705.  (1) A trustee may resign in either of the following circumstances:  (a) Upon at least 28 days' notice to the qualified trust beneficiaries, the holders of powers of appointment, and all cotrustees.  (b) With the approval of the court.  (2) In approving a resignation, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property.  (3) 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: Add. 2009, Act 46, Eff. Apr. 1, 2010 Popular Name: EPIC
MI Comp L § 700.7706 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article VII - Michigan Trust Code (700.7101...700.7913)|386-1998-VII-7 - Part 7 Office of Trustee (700.7701...700.7709)|Section 700.7706 - Removal of Trustee.

700.7706 Removal of trustee.Sec. 7706.  (1) The settlor, a cotrustee, or a qualified trust beneficiary may request the court to remove a trustee, or a trustee may be removed by the court on its own initiative.  (2) The court may remove a trustee if 1 or more of the following occur:  (a) The trustee commits a serious breach of trust.  (b) Lack of cooperation among cotrustees substantially impairs the administration of the trust.  (c) 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 purposes of the trust.  (d) There has been a substantial change of circumstances, the court finds that removal of the trustee best serves the interests of the trust beneficiaries and is not inconsistent with a material purpose of the trust, and a suitable cotrustee or successor trustee is available.  (3) Pending a final decision on a request to remove a trustee, or in lieu of or in addition to removing a trustee, to the extent it is not inconsistent with a material purpose of the trust, the court may order any appropriate relief under section 7901(2) that is necessary to protect the trust property or the interests of the trust beneficiaries. History: Add. 2009, Act 46, Eff. Apr. 1, 2010 Popular Name: EPIC
MI Comp L § 700.7707 (2021)
2021 Michigan Compiled Laws|Chapter 700 - Estates and Protected Individuals Code|Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)|Article VII - Michigan Trust Code (700.7101...700.7913)|386-1998-VII-7 - Part 7 Office of Trustee (700.7701...700.7709)|Section 700.7707 - Delivery of Property by Former Trustee.

700.7707 Delivery of property by former trustee.Sec. 7707.  (1) 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.  (2) A trustee who has resigned or been removed shall proceed expeditiously to deliver the trust property in the trustee's possession to the cotrustee, successor trustee, or other person entitled to it. History: Add. 2009, Act 46, Eff. Apr. 1, 2010 Popular Name: EPIC