reglab/housing_qa huggingface dataset:
MN Stat § 501B.54 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501B — Charitable Trusts|Section 501B.54 — Legal Effect Of Deed, Mortgage, Or Lease Made Under Section 501b.53.

501B.54 LEGAL EFFECT OF DEED, MORTGAGE, OR LEASE MADE UNDER SECTION 501B.53. A deed, mortgage, or lease executed and delivered in accordance with an order of confirmation under section 501B.53 binds the interests of the applicant for the order and of all other persons interested in the real property sold, mortgaged, or leased. History:   1989 c 340 art 1 s 46
MN Stat § 501B.55 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501B — Charitable Trusts|Section 501B.55 — Date Of Creation Of Interests Affected By The Procedures In Sections 501b.46 To 501b.54.

501B.55 DATE OF CREATION OF INTERESTS AFFECTED BY THE PROCEDURES IN SECTIONS 501B.46 TO 501B.54. The procedures in sections 501B.46 to 501B.54 apply to proceedings initiated after January 1, 1990, with respect to interests created before, on, or after January 1, 1990. History:   1989 c 340 art 1 s 47
MN Stat § 501C.0101 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0101 — Short Title.

501C.0101 SHORT TITLE. This chapter may be cited as the "Minnesota Trust Code." History:   2015 c 5 art 1 s 1
MN Stat § 501C.0102 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0102 — Scope.

501C.0102 SCOPE. (a) This chapter applies to express trusts, charitable or noncharitable, and trusts created pursuant to a statute, judgment, or decree that require the trust to be administered in the manner of an express trust. (b) Sections 501C.0201 to 501C.0208 do not apply to trusts in the nature of mortgages or to trusts commonly known as voting trusts. Sections 501C.0201 to 501C.0208 apply, unless otherwise provided in the trust instrument, to trusts established in connection with bonds issued under chapter 469, and, at the sole election of the issuer of bonds issued under chapter 469, without a trust indenture, to the pledges and other bond covenants made by the issuer in one or more resolutions with respect to the bonds. If the issuer elects to apply sections 501C.0201 to 501C.0208, for such purposes only, pledges and other bond covenants shall be deemed the "trust," the resolution or resolutions shall be deemed the "trust instrument," and the issuer shall be deemed the "trustee" notwithstanding the absence of any fiduciary responsibility owed by the "issuer" toward the bondholders. Nothing in this section precludes the issuer from seeking approval under sections 501C.0201 to 501C.0208 of the creation of any express trust under a trust indenture and the appointment of a trustee to act as fiduciary for the benefit of the bondholders. As used in sections 501C.0201 to 501C.0208, "beneficiary" includes a bondholder. (c) This chapter does not apply to corporate trusts, except that sections 501C.0201 to 501C.0208 apply to corporate trusts that are administered by a trustee located in this state. For purposes of this paragraph, the following terms have the meanings given: (1) "Corporate trust" means any trust created pursuant to a corporate trust agreement; and (2) "Corporate trust agreement" means any indenture, pooling and servicing agreement, collateral agency agreement, or other contractual arrangement that establishes an express trust either before or upon the occurrence of an event of default and was entered into with a trustee as a party to facilitate a commercial transaction for the issuance of debt or equity securities or for the creation of other similar rights or interests, whether or not the securities are subject to any securities laws, including but not limited to the Trust Indenture Act of 1939, as amended. History:   2015 c 5 art 1 s 2
MN Stat § 501C.0104 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0104 — Knowledge.

501C.0104 KNOWLEDGE. (a) Subject to paragraph (b), a person has knowledge of a fact if the person: (1) has actual knowledge of it; (2) has received a notice or notification of it; or (3) from all the facts and circumstances known to the person at the time in question, has reason to know it. (b) An organization that conducts activities through employees has notice or knowledge of a fact involving a trust only from the time the information was received by an employee having responsibility to act for the trust, or would have been brought to the employee's attention if the organization had exercised reasonable diligence. An organization exercises reasonable diligence if it maintains reasonable policies and procedures for communicating significant information to the employee having responsibility to act for the trust and there is reasonable compliance with the policies and procedures. Reasonable diligence does not require an employee of the organization to communicate information unless the communication is part of the individual's regular duties or the individual knows a matter involving the trust would be materially affected by the information. (c) With respect to a conveyance of real property, an organization or other person shall be deemed to have knowledge of facts disclosed by a title examination in accordance with applicable customs and standards. History:   2015 c 5 art 1 s 4
MN Stat § 501C.0105 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0105 — Default And Mandatory Rules.

501C.0105 DEFAULT AND MANDATORY RULES. (a) Except as otherwise provided in the terms of a trust, this chapter governs the duties and powers of a trustee, relations among trustees, and the rights and interests of a beneficiary. (b) The terms of a trust prevail over any provision of this chapter except: (1) the requirements for creating a trust; (2) the duty of a trustee to act in good faith and in accordance with the terms and purposes of the trust and the interests of the beneficiaries; (3) the requirement that a trust and its terms be for the benefit of its beneficiaries, and that the trust have a purpose that is lawful, not contrary to public policy, and possible to achieve; (4) the power of the court to modify or terminate a trust under sections 501C.0410 to 501C.0416; (5) the effect of a spendthrift provision and the rights of certain creditors and assignees to reach a trust as provided in sections 501C.0502 to 501C.0507; (6) the power of the court under section 501C.0702 to require, dispense with, or modify or terminate a bond; (7) the power of the court under section 501C.0708, paragraph (b), to adjust a trustee's compensation specified in the terms of the trust which is unreasonably low or high; (8) the effect of an exculpatory term under section 501C.1008; (9) the rights under sections 501C.1010 to 501C.1013 of a person other than a trustee or beneficiary; (10) periods of limitation for commencing a judicial proceeding; (11) the power of the court to take such action and exercise such jurisdiction as may be necessary in the interests of justice; and (12) the subject-matter jurisdiction of the court as provided in section 501C.0202 and venue for commencing a proceeding as provided in section 501C.0207, except as provided in section 501C.0102. History:  2015 c 5 art 1 s 5; 2019 c 50 art 1 s 123
MN Stat § 501C.0106 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0106 — Common Law Of Trusts; Principles Of Equity.

501C.0106 COMMON LAW OF TRUSTS; PRINCIPLES OF EQUITY. The common law of trusts and principles of equity supplement this chapter, except to the extent modified by this chapter or another law of this state. History:   2015 c 5 art 1 s 6
MN Stat § 501C.0107 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0107 — Governing Law.

501C.0107 GOVERNING LAW. (a) The meaning and legal effect of the terms of a trust are determined by: (1) the law of the jurisdiction designated in the terms of the trust unless the application of that jurisdiction's law is contrary to a strong public policy of the jurisdiction having the most significant relationship to the matter at issue. The mere fact that a jurisdiction having the most significant relationship to the matter at issue has a law contrary to the law of the designated jurisdiction does not, standing alone, indicate a strong public policy contrary to that of the designated jurisdiction; or (2) in the absence of a controlling designation in the terms of the trust, the law of the jurisdiction having the most significant relationship to the matter at issue. (b) For purposes of this section, factors to consider in determining which jurisdiction has the most significant relationship to the matter at issue include the place of the trust's creation, the location of trust property, and the domicile of the settlor, the trustee, and the beneficiaries. History:   2015 c 5 art 1 s 7
MN Stat § 501C.0108 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0108 — Principal Place Of Administration.

501C.0108 PRINCIPAL PLACE OF ADMINISTRATION. (a) Without precluding other means for establishing a sufficient connection with the designated jurisdiction, terms of a trust designating the initial principal place of administration are valid and controlling if: (1) a trustee's principal place of business is located in, or a trustee is a resident of, the designated jurisdiction; or (2) all or part of the administration occurs in the designated jurisdiction. (b) A trustee is under a continuing duty to administer the trust at a place appropriate to its purposes, its administration, and the interests of the beneficiaries. (c) Without precluding the right of the court to order, approve, or disapprove a transfer, the trustee, in furtherance of the duty prescribed by paragraph (b), may transfer the trust's principal place of administration to another state or to a jurisdiction outside of the United States. (d) The trustee shall notify the qualified beneficiaries of a proposed transfer of a trust's principal place of administration not less than 60 days before initiating the transfer; provided that the trustee may initiate the transfer at any time after the notice if all of the qualified beneficiaries agree in writing to an earlier effective date or waive the right to object to the transfer in writing, or upon court approval. The notice of proposed transfer must include: (1) the name of the jurisdiction to which the principal place of administration is to be transferred; (2) the address and telephone number at the new location at which the trustee can be contacted; (3) an explanation of the reasons for the proposed transfer; (4) the date on which the proposed transfer is anticipated to occur; and (5) the date, not less than 60 days after giving the notice, by which the qualified beneficiary must notify the trustee of an objection to the proposed transfer. (e) The authority of a trustee under this section to transfer a trust's principal place of administration terminates if a qualified beneficiary notifies the trustee of an objection to the proposed transfer on or before the date specified in the notice. If the trustee receives an objection from a qualified beneficiary, the trustee shall not transfer the principal place of administration absent court approval. (f) Notwithstanding paragraphs (a) to (e), a trustee may transfer some or all of the trust's assets to a successor trustee designated in the terms of the trust or appointed pursuant to section 501C.0704 even if the successor trustee has a principal place of business or residence in a jurisdiction that is different from the trust's principal place of administration. History:   2015 c 5 art 1 s 8
MN Stat § 501C.0109 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0109 — Methods And Waiver Of Nonjudicial Notice.

501C.0109 METHODS AND WAIVER OF NONJUDICIAL NOTICE. (a) Notice to a person under this chapter or the sending of a document to a person under this chapter must be accomplished in a manner reasonably suitable under the circumstances and that is likely to result in receipt of the notice or document. Permissible methods of notice or for sending a document include first-class mail, personal delivery, delivery to the person's last known place of residence or place of business, or a properly directed facsimile or electronic message. (b) Notice otherwise required under this chapter or a document otherwise required to be sent under this chapter need not be provided to a person whose identity is unknown or whose location is unknown and not reasonably ascertainable by the trustee after making reasonable efforts to locate the person. (c) Notice under this chapter or the sending of a document under this chapter may be waived in writing by the person to be notified or sent the document. (d) Notice of a judicial proceeding must be given as provided in sections 501C.0201 to 501C.0208. History:   2015 c 5 art 1 s 9
MN Stat § 501C.0110 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0110 — Others Treated As Qualified Beneficiaries.

501C.0110 OTHERS TREATED AS QUALIFIED BENEFICIARIES. (a) Whenever notice to qualified beneficiaries of a trust is required under this chapter, the trustee must also give notice to any other beneficiary who has sent the trustee a request for notice. (b) A charitable organization expressly designated to receive distributions under the terms of a charitable trust has the rights of a qualified beneficiary under this chapter if the charitable organization, on the date the charitable organization's qualification is being determined: (1) is a distributee or permissible distributee of trust income or principal; (2) would be a distributee or permissible distributee of trust income or principal upon the termination of the interests of other distributees or permissible distributees then receiving or eligible to receive distributions; or (3) would be a distributee or permissible distributee of trust income or principal if the trust terminated on that date. (c) A person appointed to enforce a trust created for the care of an animal or another noncharitable purpose as provided in section 501C.0408 or 501C.0409 has the rights of a qualified beneficiary under this chapter. (d) The attorney general of this state has the rights of a qualified beneficiary with respect to a charitable trust having its principal place of administration in this state. History:  2015 c 5 art 1 s 10; 2016 c 135 art 1 s 1
MN Stat § 501C.0111 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0111 — Nonjudicial Settlement Agreements.

501C.0111 NONJUDICIAL SETTLEMENT AGREEMENTS. (a) For purposes of this section, "interested persons" means persons whose consent would be required in order to achieve a binding settlement were the settlement to be approved by the court. (b) Except as otherwise provided in paragraph (c), interested persons may enter into a binding nonjudicial settlement agreement with respect to any matter involving a trust including but not limited to: (1) the interpretation or construction of the terms of the trust; (2) the approval of a trustee's report or accounting; (3) direction to a trustee to refrain from performing a particular act or the grant to a trustee of any necessary or desirable power; (4) the resignation or appointment of a trustee and the determination of a trustee's compensation; (5) transfer of a trust's principal place of administration; and (6) liability of a trustee for an action relating to the trust. (c) A nonjudicial settlement agreement is valid only to the extent it does not violate a material purpose of the trust and includes terms and conditions that could be properly approved by the court under this chapter or other applicable law. (d) Any interested person may request that the court approve a nonjudicial settlement agreement, to determine whether the representation as provided in sections 501C.0301 to 501C.0305 was adequate, and to determine whether the agreement contains terms and conditions the court could have properly approved. History:  2015 c 5 art 1 s 11; 2016 c 158 art 1 s 198
MN Stat § 501C.0112 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0112 — Rules Of Construction.

501C.0112 RULES OF CONSTRUCTION. The rules of construction that apply in this state to the interpretation of and disposition of property by will also apply as appropriate to the interpretation of the terms of a trust and the disposition of the trust property. History:   2015 c 5 art 1 s 12
MN Stat § 501C.0202 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0202 — Subject Matter Of Judicial Proceedings.

501C.0202 SUBJECT MATTER OF JUDICIAL PROCEEDINGS. A judicial proceeding involving a trust may relate to one or more of the following matters: (1) to confirm an action taken by a trustee; (2) upon the filing of an account, to settle and allow the account; (3) to determine the persons having an interest in the income or principal of the trust and the nature and extent of their interests; (4) to construe, interpret, or reform the terms of a trust, or authorize a deviation from the terms of a trust, including a proceeding involving section 501B.31; (5) to approve payment of the trustee's, attorney, or accountant fees, or any other fees to be charged against the trust; (6) to confirm the appointment of a trustee; (7) to accept a trustee's resignation and discharge the trustee from the trust as provided in section 501C.0705; (8) to require a trustee to account; (9) to remove a trustee as provided in section 501C.0706; (10) to appoint a successor trustee when required by the terms of the trust instrument or when by reason of death, resignation, removal, or other cause there is no acting trustee; (11) to appoint an additional trustee or special fiduciary whether or not a vacancy in trusteeship exists as provided in section 501C.0704; (12) to confirm an act taken by a person with respect to a trust while there was no acting trustee or otherwise in compliance with section 501C.0701; (13) to subject a trust to or remove a trust from continuing court supervision under section 501C.0205; (14) to mortgage, lease, sell, or otherwise dispose of real property held by the trustee notwithstanding any contrary provision of the trust instrument; (15) to suspend the powers and duties of a trustee in military service or war service, in accordance with section 525.95, and to order further action authorized in that section; (16) to secure compliance with the provisions of sections 501B.33 to 501B.45, in accordance with section 501B.41, relating to charitable trusts; (17) to determine the validity of a disclaimer under sections 524.2-1101 to 524.2-1116; (18) to transfer the trust's principal place of administration as provided in section 501C.0108; (19) to redress a breach of trust; (20) to terminate a trust; (21) to divide a trust or to merge two or more trusts as provided in section 501C.0417; (22) to approve a nonjudicial settlement as provided in section 501C.0111; (23) to approve, modify, or object to a proposed trust decanting as provided in section 502.851; or (24) to instruct the trustee regarding any matter involving the trust's administration or the discharge of the trustee's duties, including a request for instructions and an action to declare rights. History:   2015 c 5 art 2 s 2
MN Stat § 501C.0203 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0203 — Order For Hearing And Notice.

501C.0203 ORDER FOR HEARING AND NOTICE. Subdivision 1. In rem judicial proceedings. Upon the filing of a petition under the district court's in rem jurisdiction by an interested person, the court shall, by order, fix a time and place for a hearing. Notice of the judicial proceeding must be given by an interested person as follows: (1) by publishing, at least 20 days before the date of the hearing, a copy of the order for hearing one time in a legal newspaper for the county in which the petition is filed; and (2) by mailing, at least 15 days before the date of the hearing, a copy of the order for hearing to those current trustees and qualified beneficiaries of the trust whose identity is known and whose location is known or reasonably ascertainable to the petitioner after making reasonable efforts to locate such persons. In the case of a qualified beneficiary who is a minor or an incapacitated person as defined in section 524.5-102, notice of the judicial proceeding shall also be given to any representative person acting on behalf of the qualified beneficiary in accordance with the provisions of sections 501C.0301 to 501C.0305 who is known to the petitioner. The district court shall have the discretion to order that notice of the judicial proceeding may be given in any other manner as the court directs. Subd. 2. In personam judicial proceedings. Upon the filing of a petition under the district court's in personam jurisdiction by an interested person, the court shall, by order, fix a time and place for hearing. Notice of the judicial proceeding must be given by an interested person to the current trustees and the qualified beneficiaries in the same manner as set forth under Rule 4 of the Rules of Civil Procedure by serving a copy of the order for hearing and the petition at least 15 days prior to the hearing unless waived in writing by the current trustees and the qualified beneficiaries. In the case of a qualified beneficiary who is a minor or an incapacitated person as defined in section 524.5-102, notice of the judicial proceeding shall also be given to any representative person acting on behalf of the qualified beneficiary in accordance with the provisions of sections 501C.0301 to 501C.0305 who is known to the petitioner. The district court shall have the discretion to order that notice of the judicial proceeding may be given in any other manner as the court directs. History:   2015 c 5 art 2 s 3
MN Stat § 501C.0204 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0204 — Order And Appeal.

501C.0204 ORDER AND APPEAL. Subdivision 1. In rem judicial proceedings. Upon the hearing of a petition under the district court's in rem jurisdiction, the court shall make an order it considers appropriate. The order is binding in rem upon the trust estate and upon the interests of all beneficiaries, vested or contingent, even though unascertained or not in being. An appeal from an order which, in effect, determines the petition may be taken by any party after service by any party of written notice of its filing as provided under the Rules of Appellate Procedure or, if no notice is served, within six months after the filing of the order. Subd. 2. In personam judicial proceedings. Upon the hearing of a petition under the district court's in personam jurisdiction, the court shall make an order it considers appropriate. The order is binding on (1) a party who is served with notice of the judicial proceeding, (2) a party who appears in the judicial proceeding, and (3) any other party who may be bound by such parties as described in sections 501C.0301 to 501C.0305. An appeal from an order which, in effect, determines the petition may be taken by any party after service by any party of written notice of its filing as provided under the Rules of Appellate Procedure or, if no notice is served, within six months after the filing of the order. History:   2015 c 5 art 2 s 4