
Power Vested in Three or More Trustees May Be Exercised by a Majority, but a Form


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People also ask
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Do all trustees have to agree?
To act unanimously - Trustees must act unanimously unless the trust deed says otherwise. To act carefully and distribute assets correctly – for example, in a life interest trust, the trustees must distribute any income to the life tenant beneficiaries but still preserve the value of the capital for any remaindermen.
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What is the majority of trustees?
Majority of the Trustees means a majority of the Trustees in office at the time in question or if there shall be only one (1) Trustee in office then such term shall mean such Trustee. The Trustees may appoint committees of Trustees and delegate powers to them as provided in the Regulations.
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What is considered majority rule?
In social choice theory, the majority rule (MR) is a social choice rule which says that, when comparing two options (such as bills or candidates), the option preferred by more than half of the voters (a majority) should win. In political philosophy, the majority rule is one of two major competing notions of democracy.
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What are the powers of the trustees?
The trustee has the power to do any of the following: (a) Subdivide or develop land. (b) Dedicate land to public use. (c) Make or obtain the vacation of plats and adjust boundaries. (d) Adjust differences in valuation on exchange or partition by giving or receiving consideration.
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Does majority rule in a trust?
The default rule in California is that co-trustees must act unanimously.
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What happens when two trustees disagree?
What happens if trustees disagree. In California, co-trustees in dispute can seek judicial assistance by filing a petition for instructions in Superior Court. This legal measure requests the judge to offer guidance on the conflict, helping to direct co-trustee actions ing to the trust's terms and California law.
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