reglab/housing_qa huggingface dataset:
MN Stat § 501C.0205 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0205 — Court-supervised Trusts.

501C.0205 COURT-SUPERVISED TRUSTS. (a) A person appointed as trustee of a trust or any interested person may file in the district court an ex parte petition to confirm the appointment of the trustee and specify the manner in which the trustee must qualify for appointment. Any such petition must be filed as an in rem proceeding in compliance with section 501C.0203, subdivision 1. Upon consideration of the petition, the court shall make an order it considers appropriate. (b) A trustee whose appointment has been confirmed by court order under this section or a trustee otherwise subject to continuing court supervision by court order must file with the court administrator of the district court an inventory containing a list of all property belonging to the trust. The trustee shall render to the court, at least annually, a verified account containing a complete inventory of the trust assets and itemized principal and income accounts. This section does not apply to trusts established in connection with bonds issued under chapter 469. History:   2015 c 5 art 2 s 5
MN Stat § 501C.0206 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0206 — Personal Jurisdiction Over Trustee And Beneficiary.

501C.0206 PERSONAL JURISDICTION OVER TRUSTEE AND BENEFICIARY. (a) By accepting the trusteeship of a trust having its principal place of administration in this state or by moving the principal place of administration to this state, the trustee submits to the personal jurisdiction of the courts of this state regarding any matter involving the trust. (b) With respect to their interests in the trust, the beneficiaries of a trust having its principal place of administration in this state are subject to the personal jurisdiction of the courts of this state regarding any matter involving the trust. By not releasing or disclaiming the beneficiary's beneficial interest in the trust, a beneficiary of a trust having its principal place of administration in this state submits to the personal jurisdiction of the courts of this state regarding any matter involving the trust. (c) This section does not preclude other methods of obtaining personal jurisdiction over a trustee, beneficiary, or other person receiving property from the trust. History:   2015 c 5 art 2 s 6
MN Stat § 501C.0207 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0207 — Venue.

501C.0207 VENUE. (a) Except as otherwise provided in paragraph (b), venue for a judicial proceeding involving a trust is as follows: (1) in the case of a trust created by will, in the district court for (i) the county of this state where the will was probated, (ii) the county of this state where a trustee having custody of part or all of the trust assets resides or has a trust office, or (iii) the county of this state in which the trust's principal place of administration is or will be located upon approval by the court; (2) in the case of a nontestamentary trust, in the district court for (i) the county of this state where a trustee having custody of part or all of the trust assets resides or has a trust office, or (ii) the county of this state in which the trust's principal place of administration is or will be located upon approval by the court; or (3) in the case of a trust holding real property, in the district court for any county in which the real estate is situated. (b) In the case of a trust with respect to which there have been prior court proceedings in this state, a petition under sections 501C.0201 to 501C.0206 must be filed in the court in which the prior proceedings were held, absent approval from the prior court. History:   2015 c 5 art 2 s 7
MN Stat § 501C.0208 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0208 — Application.

501C.0208 APPLICATION. Sections 501C.0201 to 501C.0207 do not limit or abridge the power or jurisdiction of the court over trusts, trustees, and beneficiaries. History:   2015 c 5 art 2 s 8
MN Stat § 501C.0301 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0301 — Representation: Basic Effect.

501C.0301 REPRESENTATION: BASIC EFFECT. (a) Notice to a person who may represent and bind another person under sections 501C.0302 to 501C.0305 has the same effect as if notice were given directly to the other person. (b) The consent of a person who may represent and bind another person under sections 501C.0302 to 501C.0305 is binding on the person represented unless the person represented objects to the representation before the consent would otherwise have been effective. The provisions of this paragraph shall not apply to representation under section 501C.0302. (c) Except as otherwise provided in sections 501C.0411 and 501C.0602, a person who under sections 501C.0302 to 501C.0305 may represent a settlor who lacks capacity may receive notice and give a binding consent on the settlor's behalf. (d) A settlor may not represent and bind a beneficiary under sections 501C.0302 to 501C.0305 with respect to the termination or modification of a trust under section 501C.0411, paragraph (a). (e) The settlor or another person, including one or more beneficiaries of the trust, designated by the terms of the trust instrument to receive information from the trustee concerning the administration of the trust and the material facts necessary to protect the beneficiaries' interests in the manner described in section 501C.0813, paragraph (b), shall be a representative of the beneficiaries with respect to the limitations period on judicial proceedings against a trustee under section 501C.1005, paragraph (a). History:   2015 c 5 art 3 s 1
MN Stat § 501C.0302 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0302 — Representation By Holder Of A General Power.

501C.0302 REPRESENTATION BY HOLDER OF A GENERAL POWER. For purposes of giving notice, waiving notice, initiating a proceeding, granting consent or approval, or objecting with regard to any proceedings under this chapter, the sole holder or all co-holders of a presently exercisable or testamentary general power of appointment, power of revocation, or unlimited power of withdrawal are deemed to represent and act for beneficiaries to the extent that their interests as permissible appointees, takers in default, or otherwise are subject to the power. History:   2015 c 5 art 3 s 2
MN Stat § 501C.0303 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0303 — Representation By Fiduciaries And Parents.

501C.0303 REPRESENTATION BY FIDUCIARIES AND PARENTS. (a) To the extent there is no conflict of interest between the representative and the person represented or among those being represented with respect to a particular question or dispute: (1) a conservator may represent and bind the estate that the conservator controls; (2) an agent having authority to act with respect to the particular question or dispute may represent and bind the principal; (3) a trustee may represent and bind the beneficiaries of the trust; (4) a personal representative of a decedent's estate may represent and bind persons interested in the estate; and (5) a parent may represent and bind the parent's minor or unborn child if a conservator for the child has not been appointed. (b) If a disagreement arises between parents seeking to represent the same minor child: (1) the parent who is a beneficiary of the trust that is the subject of the representation is entitled to represent the minor child; (2) if both parents are beneficiaries of the trust that is the subject of the representation, the parent who is a lineal descendent of the settlor is entitled to represent the minor child; (3) if neither parent is a beneficiary of the trust that is the subject of the representation, the parent who is a lineal descendent of the settlor is entitled to represent the minor child; or (4) if neither parent is a beneficiary or a lineal descendent of the settlor of the trust that is the subject of the representation, a guardian ad litem must be appointed to represent the minor child. History:   2015 c 5 art 3 s 3
MN Stat § 501C.0304 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0304 — Representation By Person Having Substantially Identical Interest.

501C.0304 REPRESENTATION BY PERSON HAVING SUBSTANTIALLY IDENTICAL INTEREST. Unless otherwise represented under section 501C.0302, 501C.0303, or 501C.0305, a minor, an incapacitated or unborn individual, or a person whose identity or location is unknown and not reasonably ascertainable after making reasonable efforts to locate such person, may be represented by and bound by another having a substantially identical interest with respect to the particular question or dispute, but only to the extent there is no conflict of interest between the representative and the person represented. History:   2015 c 5 art 3 s 4
MN Stat § 501C.0305 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0305 — Representation By Court; Appointment Of Representative.

501C.0305 REPRESENTATION BY COURT; APPOINTMENT OF REPRESENTATIVE. (a) In any in rem proceeding, if a person with an interest in a trust is a minor or an incapacitated person as defined in section 524.5-102 and has no conservator within the state, or if a person with an interest in a trust is unborn, unascertained, or a person whose identity or address is unknown and not reasonably ascertainable, the court shall represent that person, unless the court appoints a representative to represent the person. (b) As to any other matter arising under this chapter, whether or not a judicial proceeding concerning the trust is pending, if the court determines that a person with an interest in a trust is not represented under sections 501C.0301 to 501C.0304, or that the otherwise available representation might be inadequate, the court may appoint a representative on behalf of such unrepresented person. The appointment of a representative pursuant to this section shall constitute a determination by the court that such appointment is appropriate. (c) Any representative provided for in this section may be appointed upon application of the trustee or of any other person with an interest in a trust, or by the court on its own motion. (d) In making decisions, the court or a representative, as the case may be, may consider general benefit accruing to the living members of the represented person's family. History:   2015 c 5 art 3 s 5
MN Stat § 501C.0401 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0401 — Methods Of Creating Trust.

501C.0401 METHODS OF CREATING TRUST. (a) A trust may be created by: (1) transfer of property to another person as trustee during the settlor's lifetime or by will or other disposition taking effect upon the settlor's death; (2) declaration by the owner of property that the owner holds identifiable property as trustee; or (3) exercise of a power of appointment in favor of a trustee. (b) If a transfer of property is made to one person and the purchase price is paid by another person, a resulting trust is presumed to arise in favor of the person by whom the purchase price is paid, except: (1) if the person by whom the purchase price was paid manifests a contrary intention, no resulting trust is presumed to arise; (2) if the transferee is a spouse, child, or other natural object of bounty of the payor, a gift in favor of the transferee is presumed and no resulting trust is presumed to arise; and (3) if the transfer is made to accomplish an illegal purpose, no resulting trust is presumed to arise unless it is needed to prevent unjust enrichment of the transferee. (c) Every legal estate and interest not embraced in an express trust and not otherwise disposed of remains in the settlor. History:   2015 c 5 art 4 s 1
MN Stat § 501C.0402 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0402 — Requirements For Creation.

501C.0402 REQUIREMENTS FOR CREATION. (a) A trust is created only if: (1) the settlor has capacity to transfer property free from trust, except that if a trust is a revocable trust, the settlor has capacity as required under section 501C.0601; (2) the settlor indicates an intention to create the trust; (3) the trust has a definite beneficiary or is: (i) a charitable trust; (ii) trust for the care of an animal, as provided in section 501C.0408; or (iii) a trust for a noncharitable purpose, as provided in section 501C.0409; and (4) the trustee has duties to perform. (b) A beneficiary is definite if the beneficiary can be ascertained now or in the future, subject to any applicable rule against perpetuities. (c) A power in a trustee to select a beneficiary from an indefinite class is valid. If the power is not exercised within a reasonable time, the power fails and the property subject to the power passes to the persons who would have taken the property if the power had not been conferred. (d) No trust is invalid or terminated, and title to trust assets is not merged, because the trustee or trustees are the same person or persons as the beneficiaries of the trust. (e) Passive trusts of real or personal property are abolished. An attempt to create a passive trust vests the entire estate granted in the beneficiary. History:  2015 c 5 art 4 s 2; 2016 c 135 art 1 s 2
MN Stat § 501C.0403 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0403 — Trusts Created In Other Jurisdictions.

501C.0403 TRUSTS CREATED IN OTHER JURISDICTIONS. A trust not created by will is validly created if its creation complies with the law of jurisdiction in which the trust instrument is executed, or the law of the jurisdiction in which, at the time of execution: (1) the settlor was domiciled, had a place of abode, or was a national; (2) a trustee was domiciled or had a place of business; or (3) any trust property was located. History:   2015 c 5 art 4 s 3
MN Stat § 501C.0404 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0404 — Trust Purposes.

501C.0404 TRUST PURPOSES. A trust may be created only to the extent its purposes are lawful, not contrary to public policy, and possible to achieve. A trust and its terms must be for the benefit of its beneficiaries. History:   2015 c 5 art 4 s 4
MN Stat § 501C.0406 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0406 — Creation Of Trust Induced By Fraud, Duress, Or Undue Influence.

501C.0406 CREATION OF TRUST INDUCED BY FRAUD, DURESS, OR UNDUE INFLUENCE. A trust is void to the extent its creation was induced by fraud, duress, or undue influence. History:   2015 c 5 art 4 s 5
MN Stat § 501C.0407 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0407 — Evidence Of Oral Trust.

501C.0407 EVIDENCE OF ORAL TRUST. The formal expression of intent to create a trust can be either written or oral subject to the requirements of sections 513.04 and 524.2-502. The creation of an oral trust and its terms must be established by clear and convincing evidence. History:   2015 c 5 art 4 s 6
MN Stat § 501C.0408 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0408 — Trust For Care Of Animal.

501C.0408 TRUST FOR CARE OF ANIMAL. Subdivision 1. Creation of an animal trust authorized; termination. A trust may be created to provide for the care of an animal alive during the settlor's lifetime. The trust terminates upon the death of the animal or, if the trust was created to provide for the care of more than one animal alive during the settlor's lifetime, upon the death of the last surviving animal. Notwithstanding the foregoing, the trust may not be enforced for more than 90 years. Subd. 2. Enforcement of trust. A trust authorized by this section may be enforced by a person appointed in the terms of the trust or, if no person is appointed, by a person appointed by a court. A person having an interest in the welfare of the animal may request the court to appoint a person to enforce the trust or to remove an appointed person. Subd. 3. Application of trust property. Property of a trust authorized by this section may be applied only to the trust's intended use, except to the extent a court determines that the value of the trust property exceeds the amount required for the intended use. Upon termination of the trust, or if the court determines the trust has excess funds, the trustee shall transfer the unexpended or excess trust property pursuant to the terms of the trust instrument or, if there is no provision in the trust instrument, then the trust passes to the settlor's heirs-at-law determined as if the settlor died intestate domiciled in this state at the time of distribution. Subd. 4. Public health programs and trusts. An irrevocable inter vivos trust created under this section is subject to section 501C.1206. History:   2016 c 135 art 1 s 3
MN Stat § 501C.0409 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0409 — Noncharitable Trust Without Ascertainable Beneficiary.

501C.0409 NONCHARITABLE TRUST WITHOUT ASCERTAINABLE BENEFICIARY. Except as otherwise provided in section 501C.0408 or by another statute, the following rules apply: (1) A trust may be created for a noncharitable purpose without a definite or definitely ascertainable beneficiary or for a noncharitable but otherwise valid purpose to be selected by the trustee. The trust may not be enforced for more than 21 years. (2) A trust authorized by this section may be enforced by a person appointed in the terms of the trust or, if no person is so appointed, by a person appointed by the court. (3) Property of a trust authorized by this section may be applied only to its intended use, except to the extent the court determines that the value of the trust property exceeds the amount required for the intended use. Except as otherwise provided in the terms of the trust, property not required for the intended use must be distributed to the settlor, if then living, otherwise to the settlor's successors in interest. History:  2015 c 5 art 4 s 7; 2016 c 135 art 1 s 4
MN Stat § 501C.0410 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0410 — Modification Or Termination Of Trust; Proceedings For Approval Or Disapproval.

501C.0410 MODIFICATION OR TERMINATION OF TRUST; PROCEEDINGS FOR APPROVAL OR DISAPPROVAL. (a) In addition to the methods of termination prescribed by sections 501C.0411 to 501C.0414, a trust terminates to the extent the trust is revoked or expires pursuant to its terms, no purpose of the trust remains to be achieved, or the purposes of the trust have become unlawful, contrary to public policy, or impossible to achieve. (b) A proceeding to approve or disapprove a proposed modification or termination under sections 501C.0411 to 501C.0416, or trust combination or division under section 501C.0417, may be commenced by a trustee or beneficiary, and a proceeding to approve or disapprove a proposed modification or termination under section 501C.0411 may be commenced by the settlor. History:   2015 c 5 art 4 s 8
MN Stat § 501C.0411 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0411 — Modification Or Termination Of Noncharitable Irrevocable Trust By Consent.

501C.0411 MODIFICATION OR TERMINATION OF NONCHARITABLE IRREVOCABLE TRUST BY CONSENT. (a) A noncharitable irrevocable trust may be modified or terminated upon consent of the settlor and all beneficiaries, even if the modification or termination is inconsistent with a material purpose of the trust. A settlor's power to consent to a trust's modification or termination may be exercised by an agent under a power of attorney only to the extent expressly authorized by the power of attorney or the terms of the trust; by the settlor's conservator with the approval of the court supervising the conservatorship if an agent is not so authorized; or by the settlor's guardian with the approval of the court supervising the guardianship if an agent is not so authorized and a conservator has not been appointed. (b) A noncharitable irrevocable trust may be terminated upon consent of all of the beneficiaries if the court concludes that continuance of the trust is not necessary to achieve any material purpose of the trust. A noncharitable irrevocable trust may be modified upon consent of all of the beneficiaries if the court concludes that modification is not inconsistent with a material purpose of the trust. (c) The court is not precluded from modifying or terminating a trust because the trust instrument contains spendthrift provisions. (d) Upon termination of a trust under paragraph (a) or (b), the trustee shall distribute the trust property as agreed by the beneficiaries. (e) If not all of the beneficiaries consent to a proposed modification or termination of the trust under paragraph (a) or (b), the modification or termination may be approved by the court if the court is satisfied that: (1) if all of the beneficiaries had consented, the trust could have been modified or terminated under this section; and (2) the interests of a beneficiary who does not consent will be adequately protected. History:   2015 c 5 art 4 s 9
MN Stat § 501C.0412 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0412 — Modification Or Termination Because Of Unanticipated Circumstances Or Inability To Administer Trust Effectively.

501C.0412 MODIFICATION OR TERMINATION BECAUSE OF UNANTICIPATED CIRCUMSTANCES OR INABILITY TO ADMINISTER TRUST EFFECTIVELY. (a) The court may modify the administrative or dispositive terms of a trust or terminate the trust if, because of circumstances not anticipated by the settlor, modification or termination will further the purposes of the trust. To the extent practicable, the modification must be made in accordance with the settlor's probable intention. (b) The court may modify the administrative terms of a trust if continuation of the trust on its existing terms would be impracticable or wasteful or impair the trust's administration. (c) Upon termination of a trust under this section, the trustee shall distribute the trust property in a manner consistent with the order of the court. History:   2015 c 5 art 4 s 10
MN Stat § 501C.0414 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501C — Trusts|Section 501C.0414 — Modification Or Termination Of Uneconomic Trust.

501C.0414 MODIFICATION OR TERMINATION OF UNECONOMIC TRUST. (a) After notice to the qualified beneficiaries, the trustee of a trust consisting of trust property having a total value less than $50,000 may terminate the trust if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration. (b) The court may modify or terminate a trust or remove the trustee and appoint a different trustee if it determines that the value of the trust property is insufficient to justify the cost of administration. (c) Upon termination of a trust under this section, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust. (d) This section does not apply to an easement for conservation or preservation. History:   2015 c 5 art 4 s 11