35-15-1103 - Application to existing relationships. - Tennessee Statutes

35-15-1103. Application to existing relationships.

(a)  Except as otherwise provided in this chapter, on July 1, 2004:

     (1)  This chapter applies to all trusts created before, on, or after July 1, 2004;

     (2)  This chapter applies to all judicial proceedings concerning trusts commenced on or after July 1, 2004;

     (3)  This chapter applies to judicial proceedings concerning trusts commenced before July 1, 2004, unless the court finds that application of a particular provision of this chapter would substantially interfere with the effective conduct of the judicial proceedings or prejudice the rights of the parties, in which case the particular provision of this chapter does not apply and the superseded law applies;

     (4)  Any rule of construction or presumption provided in this chapter applies to trust instruments executed before July 1, 2004, unless there is a clear indication of a contrary intent in the terms of the trust; and

     (5)  An act done before July 1, 2004, is not affected by this chapter.

(b)  If a right is acquired, extinguished, or barred upon the expiration of a prescribed period that has commenced to run under any other statute before July 1, 2004, that statute continues to apply to the right even if it has been repealed or superseded.

[Acts 2004, ch. 537, § 94.]