El texto completo de esta guía está en inglés; el resumen anterior está en su idioma. Los resúmenes de las leyes y el inglés siguen siendo la fuente de referencia.
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Two ways to resign
A trustee may resign upon at least 30 days' notice to the qualified beneficiaries, the settlor if living and all cotrustees, or with the approval of the court (Tenn. Code Ann. § 35-15-705(a)). In approving a resignation, the court may issue orders and impose conditions reasonably necessary to protect the trust property ((b)). A charity expressly designated to receive distributions may receive the notice as a qualified beneficiary (Tenn. Code Ann. § 35-15-110(a)).
Who fills the vacancy
A resignation creates a vacancy (Tenn. Code Ann. § 35-15-704(a)(3)). If a cotrustee remains in office the vacancy need not be filled; if the trust has no remaining trustee it is filled ((b)) — for a noncharitable trust, by the person the terms designate as successor, then by a person the qualified beneficiaries appoint by unanimous agreement, then by a person the court appoints ((c)). The court may also appoint an additional trustee or a special fiduciary whenever it considers one necessary ((e)).
The hand-off
Until the trust property is delivered to a successor trustee or another person entitled to it — unless a cotrustee remains or the court orders otherwise — a trustee who has resigned keeps the duties of a trustee and the powers necessary to protect the trust property (Tenn. Code Ann. § 35-15-707(a)), and delivers the property within a reasonable time ((b)). Before delivering, the resigning trustee may petition the court for approval of its accountings and a release and discharge from liability under Tenn. Code Ann. § 35-15-205 ((c)).
Recording, where the trust holds real estate
Where real estate is part of the trust property and a trustee resigns without a court order, the resigning trustee executes and records an instrument reciting the resignation, giving the successor trustee's name and address, and identifying each parcel the trust holds; if the resigning trustee does not record it within 30 days after resigning, the successor — or a remaining trustee where there is no successor — executes and records it (Tenn. Code Ann. § 35-1-101(b)). A court order accepting a resignation and appointing a successor, or a memorandum of it, is recorded in each county where trust real estate lies ((a)).
Closing the account
Two routes close a resigning trustee's account. A qualified beneficiary or the successor trustee may petition the court for a final accounting by the departing trustee, and the departing trustee may petition to have its final accounting approved; approval relieves the trustee from liability for the period it covers (Tenn. Code Ann. § 35-15-205(a), (e)). Or the trustee may send the discharge notice upon its resignation — with the statement of assets and liabilities, receipts and disbursements, and a proposal for distribution — and, absent a specific written objection within 45 days after receipt, is relieved from liability for its most recent continuous period of service (Tenn. Code Ann. § 35-15-817(b), (c), (h)).
What resignation does not end
Any liability of a resigning trustee, or of the sureties on its bond, for its acts or omissions is not discharged or affected by the resignation (Tenn. Code Ann. § 35-15-705(c)). Absent information that adequately disclosed a potential claim, which starts a one-year period, a beneficiary's breach claim runs within three years after the first of the trustee's resignation, the end of the beneficiary's interest or the end of the trust (Tenn. Code Ann. § 35-15-1005(a), (c)).
Las leyes, textualmente
Real property; documents to be recorded; trust property
Tenn. Code Ann. § 35-1-101 ↗Explicación clara y sencilla; el texto literal del estatuto aún no está atestiguado en nuestra biblioteca. Consulte el estatuto oficial en el enlace de arriba.
Petition for final accounting on resignation, removal or termination
Tenn. Code Ann. § 35-15-205 ↗Explicación clara y sencilla; el texto literal del estatuto aún no está atestiguado en nuestra biblioteca. Consulte el estatuto oficial en el enlace de arriba.
Vacancy in trusteeship; appointment of successor
Tenn. Code Ann. § 35-15-704 ↗Explicación clara y sencilla; el texto literal del estatuto aún no está atestiguado en nuestra biblioteca. Consulte el estatuto oficial en el enlace de arriba.
Resignation of trustee
Tenn. Code Ann. § 35-15-705 ↗Explicación clara y sencilla; el texto literal del estatuto aún no está atestiguado en nuestra biblioteca. Consulte el estatuto oficial en el enlace de arriba.
Delivery of property by former trustee; petition for release
Tenn. Code Ann. § 35-15-707 ↗Explicación clara y sencilla; el texto literal del estatuto aún no está atestiguado en nuestra biblioteca. Consulte el estatuto oficial en el enlace de arriba.
Distribution on termination, removal or resignation; discharge notice
Tenn. Code Ann. § 35-15-817 ↗Explicación clara y sencilla; el texto literal del estatuto aún no está atestiguado en nuestra biblioteca. Consulte el estatuto oficial en el enlace de arriba.
Preguntas frecuentes
How much notice does a Tennessee trustee give to resign?
At least 30 days' notice to the qualified beneficiaries, the settlor if living and all cotrustees — or the trustee may resign with the court's approval (Tenn. Code Ann. § 35-15-705(a)).
Does a resigning Tennessee trustee stay responsible until the successor takes over?
Until the trust property is delivered, a trustee who has resigned keeps the duties of a trustee and the powers needed to protect the property, unless a cotrustee remains or the court orders otherwise (Tenn. Code Ann. § 35-15-707(a)).
Does resigning end a trustee's liability?
No. A resignation does not discharge liability for the trustee's acts or omissions (Tenn. Code Ann. § 35-15-705(c)); a court-approved final accounting or a discharge notice drawing no timely objection relieves the trustee for the period it covers (Tenn. Code Ann. § 35-15-205(e); § 35-15-817(h)).
Lecturas relacionadas
El Centro de Aprendizaje es información general sobre la ley de Tennessee — no es asesoría legal ni sustituye el consejo de un abogado de Tennessee con licencia sobre sus hechos específicos. TrusteeClear es software, no un bufete.