SECTION 736.0111. Nonjudicial settlement agreements.
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1(1) 2For purposes of this section, the term “interested persons” means persons whose interest would be affected by a settlement agreement.
22(2) 23Except as otherwise provided in subsection (3), interested persons may enter into a binding nonjudicial settlement agreement with respect to any matter involving a trust.
48(3) 49A nonjudicial settlement agreement among the trustee and trust beneficiaries is valid only to the extent the terms and conditions could be properly approved by the court. A nonjudicial settlement may not be used to produce a result not authorized by other provisions of this code, including, but not limited to, terminating or modifying a trust in an impermissible manner.
109(4) 110Matters that may be resolved by a nonjudicial settlement agreement include:121(a) 122The interpretation or construction of the terms of the trust.
132(b) 133The approval of a trustee’s report or accounting.
141(c) 142The direction to a trustee to refrain from performing a particular act or the grant to a trustee of any necessary or desirable power.
166(d) 167The resignation or appointment of a trustee and the determination of a trustee’s compensation.
181(e) 182The transfer of a trust’s principal place of administration.
191(f) 192The liability of a trustee for an action relating to the trust.
204(5) 205Any interested person may request the court to approve or disapprove a nonjudicial settlement agreement.
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