3B:11-5 - Trustee's death or failure to act; appointment of new trustee by court; powers - New Jersey Statutes

3B:11-5.  Trustee's death or failure to act;  appointment of new trustee by  court;  powers
    When a trustee appointed by a will probated in the surrogate's court of any  county or a trustee appointed under a trust inter vivos as to real or personal  property situate in any county fails or refuses to act or dies before the  execution or completion of the trust committed to him, or absconds or removes  from this State, is adjudicated a mental incompetent or becomes in any manner  legally incapable of executing the trust, the Superior Court may remove the  trustee, if he be alive, and appoint a suitable person or persons to execute  the trust, and the trustee or trustees so appointed shall be entitled to the  trust estate as fully and in the same manner as the original trustee was and  shall have all the power and discretion of the original trustee.

     L.1981, c. 405, s. 3B:11-5, eff. May 1, 1982.