reglab/housing_qa huggingface dataset:
GA Code § 53-12-154 (2021)
2021 Georgia Code|Title 53 - Wills, Trusts, and Administration of Estates|Chapter 12 - Trusts|Article 8 - Creation by Deed to Acquire Beneficial Interest|§ 53-12-154. Certificates of Beneficial Interest by Trustees

 When an estate is created pursuant to Code Section 53-12-151 and from time to time thereafter, the trustee shall issue such certificates of beneficial interest as may be provided for by the deed to the persons who are beneficially interested in the estate or who become so interested therein in accordance with the provisions of the deed. The certificates shall pass and be transferred as personalty and in the same manner as shares of stock in corporations and shall be subject to levy and sale under attachment or execution or any other process in like manner as shares of stock. The trustee or person in charge of the estate representing the trustee shall be subject to the same demand as that provided by Code Sections 9-13-58 and 11-8-112 for the levying officer to make upon the officers of a corporation. Persons having claims against the estate may enforce the same by action against the trustee thereof in like manner as actions against corporations, and service thereof may be perfected by serving the trustee, if a resident of this state, and if not, then by publication. The venue of such actions shall be the same as that of similar actions against private corporations, but neither the trustee nor the beneficiaries of the estate shall be personally or individually liable therefor except in cases where officers and stockholders of private corporations would be liable under the law.    (Code 1981, §53-12-154, enacted by Ga. L. 2010, p. 579, § 1/SB 131.)
GA Code § 53-12-155 (2021)
2021 Georgia Code|Title 53 - Wills, Trusts, and Administration of Estates|Chapter 12 - Trusts|Article 8 - Creation by Deed to Acquire Beneficial Interest|§ 53-12-155. Duties and Powers of Trustees; Resignation or Removal; Successor Trustees

 The trustee of a trust created under Code Section 53-12-151 shall have sole and exclusive management and control of the property, in accordance with the terms of the deed creating the estate. The exercise by the trustee of any power granted or conferred by the deed, including the power to lease, encumber, and sell, when exercised in accordance with the terms thereof, shall be as valid and effective to all intents and purposes as if the trustee was the sole and exclusive owner of the property in his or her own right. The trustee may resign or be removed and his or her successor may be appointed in the manner of and in accordance with the terms fixed by the deed creating the estate. The same rights, powers, and title over and to the property shall belong to and be vested in the new trustee as are conferred upon the original trustee by the deed creating the estate. The death of a trustee shall not operate to cast title upon his or her heirs, devisees, executors, or administrators, but the same shall vest in his or her successor, when appointed.    (Code 1981, §53-12-155, enacted by Ga. L. 2010, p. 579, § 1/SB 131.)   RESEARCH REFERENCES   Am. Jur. 2d.   - 76 Am. Jur. 2d, Trusts, §§ 317 et seq., 331 et seq.   ALR.   - Power of guardian representing unborn future interest holders to consent to invasion of trust corpus, 49 A.L.R.2d 1095.
GA Code § 53-12-156 (2021)
2021 Georgia Code|Title 53 - Wills, Trusts, and Administration of Estates|Chapter 12 - Trusts|Article 8 - Creation by Deed to Acquire Beneficial Interest|§ 53-12-156. Investments by Trustees

 In addition to investments in any property, the trustee of a trust created under Code Section 53-12-151 may invest any funds of the trust estate in investments authorized by trustees under the laws of this state; provided, however, that the deed creating the estate may further limit or expand the powers and authority of the trustee with respect to investments, including the power to invest in property located outside this state. The trustee shall be authorized and empowered, in accordance with the terms of the deed creating the estate, from corpus or from income or from both, to repurchase or redeem any issued and outstanding certificates of beneficial interest.    (Code 1981, §53-12-156, enacted by Ga. L. 2010, p. 579, § 1/SB 131.)   RESEARCH REFERENCES   Am. Jur. 2d.   - 76 Am. Jur. 2d, Trusts, § 432.   C.J.S.   - 90A C.J.S., Trusts, § 325.   ALR.    - Authorization or approval by court of investments which are "nonlegal" or contrary to the terms of the trust instrument, 170 A.L.R. 1219.
GA Code § 53-12-157 (2021)
2021 Georgia Code|Title 53 - Wills, Trusts, and Administration of Estates|Chapter 12 - Trusts|Article 8 - Creation by Deed to Acquire Beneficial Interest|§ 53-12-157. Initial and Annual Returns

 Each trust created pursuant to this article shall make a return to the Secretary of State, upon the creation of the trust and annually thereafter, in the same manner and embracing the same information, insofar as applicable, as returns by corporations which are required to be made under Articles 1 and 16 of Chapter 2 of Title 14, including the provisions with regard to fees, penalty for noncompliance, and recording and certifying of copies of the returns.    (Code 1981, §53-12-157, enacted by Ga. L. 2010, p. 579, § 1/SB 131.)
GA Code § 53-12-158 (2021)
2021 Georgia Code|Title 53 - Wills, Trusts, and Administration of Estates|Chapter 12 - Trusts|Article 8 - Creation by Deed to Acquire Beneficial Interest|§ 53-12-158. How Title Vests on Termination of Estate

 Upon the termination of the estate created under Code Section 53-12-151, the legal title to all the property belonging to the estate which is then undisposed of shall pass to and vest in the persons who are, at that time, the beneficiaries of the estate, in shares corresponding to their respective interest as beneficiaries.    (Code 1981, §53-12-158, enacted by Ga. L. 2010, p. 579, § 1/SB 131.)   RESEARCH REFERENCES   Am. Jur. 2d.   - 76 Am. Jur. 2d, Trusts, § 71.   C.J.S.   - 90 C.J.S., Trusts, § 93.   ALR.   - Power of sale given trustee by will or trust instrument as surviving termination of trust, 43 A.L.R.2d 1102.
GA Code § 53-12-171 (2021)
2021 Georgia Code|Title 53 - Wills, Trusts, and Administration of Estates|Chapter 12 - Trusts|Article 9 - Charitable Trusts|§ 53-12-171. Power to Select Purposes or Beneficiaries

 The settlor of a charitable trust may retain the power to select the charitable purposes or charitable beneficiaries, or may grant the trustee or any other person the power to select charitable purposes or charitable beneficiaries or to engage in the charitable purposes, without rendering the trust void for indefiniteness.    (Code 1981, §53-12-171, enacted by Ga. L. 2010, p. 579, § 1/SB 131.)   RESEARCH REFERENCES   Am. Jur. 2d.   - 15 Am. Jur. 2d, Charities, §§ 8, 9.   C.J.S.   - 14 C.J.S., Charities, §§ 5, 6, 7, 15.   ALR.    - Validity of trust for religious purposes not limited by sect or denomination, 22 A.L.R. 697.    Gift to preserve or develop beauties of nature as a valid charitable trust, 52 A.L.R. 980.    Validity of charitable trust which employs term "unfortunate" or "unfortunates" as descriptive of intended beneficiaries, 111 A.L.R. 719.    Effect on certainty of purpose or beneficiaries of a charitable gift, of the possible, but not required, inclusion of a noncharitable object, 115 A.L.R. 1123.    Charitable trust as affected by lack of territorial limitation as regards beneficiaries, 141 A.L.R. 346.    Failure of trustee to carry out purposes of charitable trust, or diversion of trust property to other purposes, as ground of suit by trustor or his heirs for adjudication of title to him or them, 143 A.L.R. 395.    Control of discretion of trustee as to turning over entire principal of fund to beneficiary, 143 A.L.R. 467.    Charitable gifts; definiteness, 163 A.L.R. 784.   Trust for school children as charitable, or merely benevolent, 25 A.L.R.2d 1114.   Gift to or for employees' pension fund as valid charitable gift or trust, 28 A.L.R.2d 428.   Gift, other than one to pension fund, for employees or former employees of a particular business or company, or their families, as valid charitable gift or trust, 51 A.L.R.2d 1290.   Validity, as a charitable trust, of gift to church, church society, or trustees or officers thereof, without declaration or restriction as to its use or purpose, 81 A.L.R.2d 819.   Validity, as charitable trust, of gift or prize or award to person or persons accomplishing specified results, 7 A.L.R.3d 1281.   Charitable trusts: elimination or modification, by court, of restrictions on amount of donation or expenditure which trustee may make for purposes of trust, 50 A.L.R.3d 1116.   Validity, construction, and effect of provisions of charitable trust providing for accumulation of income, 6 A.L.R.4th 903.
GA Code § 53-12-173 (2021)
2021 Georgia Code|Title 53 - Wills, Trusts, and Administration of Estates|Chapter 12 - Trusts|Article 9 - Charitable Trusts|§ 53-12-173. Duration of Charitable Trusts

 A charitable trust shall be valid even though under the trust provisions it is to continue for an indefinite or unlimited period.    (Code 1981, §53-12-173, enacted by Ga. L. 2010, p. 579, § 1/SB 131.)
GA Code § 53-12-175 (2021)
2021 Georgia Code|Title 53 - Wills, Trusts, and Administration of Estates|Chapter 12 - Trusts|Article 9 - Charitable Trusts|§ 53-12-175. Enforcement by Settlor

 The settlor of a charitable trust may maintain a civil action to enforce the trust.    (Code 1981, §53-12-175, enacted by Ga. L. 2010, p. 579, § 1/SB 131.)
GA Code § 53-12-230 (2021)
2021 Georgia Code|Title 53 - Wills, Trusts, and Administration of Estates|Chapter 12 - Trusts|Article 12 - Accounting by Trustee|§ 53-12-230. Interim Accounting

  At any time following 12 months from the date of acceptance of a trust, but not more frequently than once every 12 months, a trustee may petition the court to approve an interim accounting relieving the trustee from liability for the period covered by the interim accounting.   The petition shall set forth:   The name and address of the trustee;   Any provisions of the trust relating to matters that will be covered by the interim accounting;   The beneficiaries of the trust, specifying any beneficiary believed to be in need of a guardian ad litem;   The period which the accounting covers;   A statement of receipts and disbursements of the trust that have occurred since the trustee's acceptance of the trust or since the effective date of the last accounting;   In a separate schedule, the principal on hand at the beginning of the accounting period and the status at that time of its investment; the investments received from the settlor and still held; additions to principal during the accounting period, with dates and sources of acquisition; investments collected, sold, or charged off during the accounting period, with the consequent loss or gain and whether credited to principal or income; investments made during the accounting period, with the date, source, and cost of each; deductions from the principal during the accounting period, with the date and purpose of each; and principal on hand at the end of the accounting period, how invested, and the estimated market value of each investment;   In a separate schedule, the income on hand at the beginning of the accounting period and in what form held; income received during the accounting period, when, and from what source; income paid out during the accounting period, when, to whom, and for what purpose; and income on hand at the end of the accounting period and how invested;   A statement of the assets and liabilities of the trust as of the end of the accounting period; and   Other information reasonably necessary to explain or understand the accounting.     The petition shall be served on the beneficiaries of the trust and the surety on the trustee's bond, if any.   Upon review of the petition and after considering any objections thereto and any evidence presented, the court may approve the trustee's interim accounting or enter judgment granting appropriate relief. If no objection to the petition is filed within the time allowed by law after service, or if the parties consent, the petition may be approved without notice, hearing, or further proceedings. The final judgment of the court shall be binding on all parties.   Costs and expenses, including reasonable attorney's fees of the trustee, shall be taxed against the trust, unless otherwise directed by the court.     (Code 1981, §53-12-230, enacted by Ga. L. 2010, p. 579, § 1/SB 131.)
GA Code § 53-12-231 (2021)
2021 Georgia Code|Title 53 - Wills, Trusts, and Administration of Estates|Chapter 12 - Trusts|Article 12 - Accounting by Trustee|§ 53-12-231. Final Accounting

  If the trustee resigns, is removed, or dies or upon the termination of the trust, a beneficiary or the successor trustee may petition the court to require the trustee or the trustee's personal representative to appear before the court for a final accounting. Alternatively, the trustee or the trustee's personal representative may petition the court to approve a final accounting relieving the trustee from liability for the period covered by the final accounting. The settlement period shall begin from the acceptance of the trusteeship by the trustee or the end of the period covered by the last interim accounting.   The petition shall set forth:   The name and address of the trustee;   The beneficiaries of the trust, specifying any beneficiary believed to be in need of a guardian ad litem;   The period which the accounting covers; and   If the petition is filed by the trustee or the trustee's personal representative, the petition shall also include the information required to be filed by trustees in conjunction with the approval of an interim accounting as set forth in subsection (b) of Code Section 53-12-230.     The petition shall be served on the beneficiaries, the trustee, the trustee's personal representative, if any, and the surety on the trustee's bond, if any.   Upon review of the trustee's final accounting and after considering any objections thereto and any evidence presented, the court may approve the final accounting or enter judgment granting appropriate relief. If no objection to the petition is filed within the time allowed by law after service, or if the parties consent, the petition may be approved without notice, hearing, or further proceedings. The final judgment of the court shall be binding on all parties.   Costs and expenses, including reasonable attorney's fees of the trustee, shall be taxed against the trust, unless otherwise directed by the court.     (Code 1981, §53-12-231, enacted by Ga. L. 2010, p. 579, § 1/SB 131.)
GA Code § 53-12-232 (2021)
2021 Georgia Code|Title 53 - Wills, Trusts, and Administration of Estates|Chapter 12 - Trusts|Article 12 - Accounting by Trustee|§ 53-12-232. Equitable Accounting

 Nothing in this article shall restrict the right of any party to seek an equitable accounting.    (Code 1981, §53-12-232, enacted by Ga. L. 2010, p. 579, § 1/SB 131.)
GA Code § 53-12-300 (2021)
2021 Georgia Code|Title 53 - Wills, Trusts, and Administration of Estates|Chapter 12 - Trusts|Article 14 - Trustee Liability|§ 53-12-300. Accountable to Beneficiary; Breach of Trust

 The trustee shall be accountable to the beneficiary for the trust property. A violation by the trustee of any duty that the trustee owes the beneficiary shall be a breach of trust.    (Code 1981, §53-12-300, enacted by Ga. L. 2010, p. 579, § 1/SB 131.)   Cross references.   - Registration of securities generally, § 10-5-20 et seq.   Law reviews.   - For article, "The Georgia Trust Act," 28 Ga. St. B.J. 95 (1991).   JUDICIAL DECISIONS   Trustee properly found to have breached fiduciary duty.    - It was not an abuse of discretion to deny a new trial motion brought by a trustee who was found to have breached the trustee's fiduciary duty to trust beneficiaries by making distributions to a co-trustee under a trust's encroachment provision because the trustee breached the trustee's duty to protect the trust corpus as: (1) the trustee inconsistently required the co-trustee to provide supporting evidence for corpus distributions and let the co-trustee exceed an allotted budget; and (2) the beneficiaries were damaged by the resulting reduction in trust corpus. Reliance Trust Co. v. Candler, 315 Ga. App. 495, 726 S.E.2d 636 (2012).   Breach of trust issue for jury.    - In a trust beneficiary's action against a co-trustee and others, issues of fact remained as to the beneficiary's claims for breach of fiduciary duty arising out of the sale of a trust asset for less than fair market value and failure to account for a commission owed on the sale, rendering summary judgment on these claims improper. Kahn v. Britt, 330 Ga. App. 377, 765 S.E.2d 446 (2014).    In a beneficiary's claims against a trustee and the trust's attorneys, issues of fact remained as to the trustee's and attorneys' duties surrounding the sale of the trust's cattle ranch at auction because no appraisal was done, the sale was only run for seven weeks, the trustee believed the land was worth more than the price obtained, and the trustee failed to consider a commission due to a real estate agent. Kahn v. Britt, 330 Ga. App. 377, 765 S.E.2d 446 (2014).   Sale of trust asset to a co-trustee through a straw man.    - Because there were genuine issues as to whether trustees fraudulently concealed their breach of fiduciary duty in selling the principal trust asset to a co-trustee at a discount through a straw man in 1979, tolling the statute of limitations, and whether the beneficiaries exercised diligence in discovering the fraud, summary judgment was improper. Smith v. SunTrust Bank, 325 Ga. App. 531, 754 S.E.2d 117 (2014).   RESEARCH REFERENCES   ALR.    - Liability of trustee or other fiduciary for loss on investment as affected by the fact that it was taken in his own name without indication of fiduciary capacity, 150 A.L.R. 805.
GA Code § 53-12-301 (2021)
2021 Georgia Code|Title 53 - Wills, Trusts, and Administration of Estates|Chapter 12 - Trusts|Article 14 - Trustee Liability|§ 53-12-301. Actions for Breach of Trust

  If a trustee commits a breach of trust, or threatens to commit a breach of trust, a beneficiary shall have a cause of action to seek:   To recover damages;   To compel the trustee to perform the trustee's duties;   To require an accounting;   To enjoin the trustee from committing a breach of trust;   To compel the trustee to redress a breach of trust by payment of money or otherwise;   To appoint a temporary trustee to take possession of the trust property and administer the trust or to suspend a trustee with or without the appointment of a temporary trustee;   To remove the trustee; and   To reduce or deny compensation of the trustee.     When trust assets are misapplied and can be traced in the hands of persons affected with notice of the misapplication, the trust shall attach to such assets. A creditor of a trust may follow assets in the hands of beneficiaries even if they were received without notice.   The remedy set forth in subsection (c) of Code Section 53-12-363 shall be the exclusive remedy for an abuse of discretion as provided in Code Sections 53-12-361 and 53-12-362.   The provision of remedies for breach of trust shall not prevent resort to any other appropriate remedy provided by statute or common law.     (Code 1981, §53-12-301, enacted by Ga. L. 2010, p. 579, § 1/SB 131.)   Cross references.   - Registration of securities generally, § 10-5-20 et seq.    Effect of purchase by or from one without notice of equity, § 23-1-19.    Liability of the legatees or distributees with respect to an unpaid debt of the estate, § 53-7-43.   JUDICIAL DECISIONS   ANALYSIS    General Consideration   Option of Affirmance or Rejection of Unauthorized Investment   Notice    RESEARCH REFERENCES   ALR.    - Following trust funds deposited in mixed bank account of trustee, 26 A.L.R. 3; 35 A.L.R. 747; 55 A.L.R. 1275; 102 A.L.R. 372.    Following or identifying trust funds in assets of insolvent bank, 82 A.L.R. 46.    Effect of beneficiary's consent to, acquiescence in, or ratification of, improper investments or loans (including failure to invest) by trustee or other fiduciary, 128 A.L.R. 4   Distribution of funds where funds of more than one trust have been commingled by trustee and balance is insufficient to satisfy all trust claims, 17 A.L.R.3d 937.   Imposition of constructive trust in property bought with stolen or embezzled funds, 38 A.L.R.3d 1354.
GA Code § 53-12-302 (2021)
2021 Georgia Code|Title 53 - Wills, Trusts, and Administration of Estates|Chapter 12 - Trusts|Article 14 - Trustee Liability|§ 53-12-302. Damages for Breach of Trust; Interest

  A trustee who commits a breach of trust shall be personally chargeable with any damages resulting from such breach of trust, including, but not limited to:   Any loss or depreciation in value of the trust property as a result of such breach of trust, with interest;   Any profit made by the trustee through such breach of trust, with interest;   Any amount that would reasonably have accrued to the trust or beneficiary if there had been no breach of trust, with interest; and   In the discretion of the court, expenses of litigation, including reasonable attorney's fees incurred in bringing an action on such breach or threat to commit such breach.     If the trustee is liable for interest, then the amount of the liability for interest shall be the greater of:   The amount of interest that accrues at the legal rate on judgments; or   The amount of interest actually received.       (Code 1981, §53-12-302, enacted by Ga. L. 2010, p. 579, § 1/SB 131.)
GA Code § 53-12-304 (2021)
2021 Georgia Code|Title 53 - Wills, Trusts, and Administration of Estates|Chapter 12 - Trusts|Article 14 - Trustee Liability|§ 53-12-304. Liability of Successor Trustee

  A successor trustee shall be liable to the beneficiary for breach of trust involving acts or omissions of a predecessor trustee only if the successor trustee:   Knows or reasonably should have known of a situation constituting a breach of trust committed by the predecessor trustee and the successor trustee improperly permits it to continue;   Neglects to take reasonable steps to compel the predecessor to deliver the trust property to the successor trustee; or   Neglects to take reasonable steps to redress a breach of trust committed by the predecessor trustee in a case where the successor trustee knows or reasonably should have known of the predecessor trustee's breach.     A trustee succeeding a trustee who was also the settlor shall not be liable to the beneficiary for any action taken or omitted to be taken by the prior trustee nor shall such successor trustee have a duty to institute any action against such prior trustee or to file any claim against such prior trustee's estate for any of the prior trustee's acts or omissions as trustee. This subsection shall apply only with respect to a trust or any portion of a trust that was revocable by the settlor during the time that the settlor served as trustee and committed the act or omission.     (Code 1981, §53-12-304, enacted by Ga. L. 2010, p. 579, § 1/SB 131; Ga. L. 2011, p. 752, § 53/HB 142.)
GA Code § 53-12-305 (2021)
2021 Georgia Code|Title 53 - Wills, Trusts, and Administration of Estates|Chapter 12 - Trusts|Article 14 - Trustee Liability|§ 53-12-305. Liability of Cotrustee

  A trustee shall be liable to the beneficiary for a breach committed by a cotrustee if such trustee:   Participates in a breach of trust committed by the cotrustee;   Improperly delegates the administration of the trust to the cotrustee;   Approves, knowingly acquiesces in, or conceals a breach of trust committed by the cotrustee;   Negligently enables the cotrustee to commit a breach of trust; or   Neglects to take reasonable steps to compel the cotrustee to redress a breach of trust in a case where such trustee knows or reasonably should have known of the breach of trust.     If two or more cotrustees are jointly liable to the beneficiary, each cotrustee shall be entitled to contribution from the other, as determined by the degree of each cotrustee's fault.     (Code 1981, §53-12-305, enacted by Ga. L. 2010, p. 579, § 1/SB 131.)