2021 Oregon Revised Statutes
Volume : 03 - Landlord-Tenant, Domestic Relations, Probate
Chapter 130 - Uniform Trust Code

Section 130.195 - UTC 410. Modification or termination of trust; proceedings for approval or disapproval. - (a) To the extent the trust is revoked or expires...

Section 130.200 - UTC 411. Modification or termination of irrevocable trust by consent. - (a) An agent or attorney-in-fact under a power of attorney...

Section 130.205 - UTC 412. Modifications or termination because of unanticipated circumstances or inability to administer trust effectively. - (2) The court may modify the administrative terms of a...

Section 130.210 - UTC 413. Cy pres. - (a) The trust does not fail, in whole or in...

Section 130.215 - UTC 414. Modification or termination of uneconomic trust. - (2) The court may modify or terminate a trust, or...

Section 130.230 - UTC 417. - (a) Combine two or more trusts into a single trust...

Section 130.232 - Division of trust into separate shares or portions; legal effect. - (a) A separate share of a trust comes into existence...

Section 130.235 - In terrorem clause. - (2) The court shall not enforce an in terrorem clause...

Section 130.237 - Abatement due to insufficiency of trust property. - (2) If the trust instrument expresses an order of abatement,...

Section 130.240 - Marital deduction gifts. - (a) "Marital deduction" means the federal estate tax deduction allowed...

Section 130.305 - UTC 502. Spendthrift provision. - (2) A term of a trust providing that the interest...

Section 130.310 - UTC 503. Exceptions to spendthrift provisions. - (2) Even if a trust contains a spendthrift provision, the...

Section 130.315 - UTC 505. Creditor’s claim against settlor. - (a) During the lifetime of the settlor, the property of...

Section 130.350 - Statute of limitations. - (2) ORS 130.350 to 130.450 apply only if: (a) A...

Section 130.355 - Commencement of proceeding. - (a) The settlor’s name, the settlor’s date of birth, the...

Section 130.360 - Limitation on presentation of claims when notice to claimants given. - (1) Four months after the date of first publication of...

Section 130.365 - Publication of notice. - (1) The name of the settlor; (2) The name of...

Section 130.370 - Notice to individual claimants. - (2) The notice required by this section must include: (a)...

Section 130.375 - Form of claim; evidence in support. - (a) Be in writing. (b) Describe the nature and the...

Section 130.380 - Claim based on debt due or judgment. - (2) If a judgment was entered on a claim prior...

Section 130.390 - Claim on secured debt that is due. - (2) If the claim is presented under this section, the...

Section 130.395 - Claim on contingent or unliquidated debt. - (2) If a contingent or unliquidated debt does not become...

Section 130.400 - Allowance and disallowance of claims. - (2) A claim presented to a trustee under ORS 130.350...

Section 130.425 - Priority of claims. - (a) Expenses of administering the trust estate. (b) Expenses of...

Section 130.435 - Applicability of time limitations to certain claims based on liens against property and liability of settlor or trustee. - (1) Any proceeding to enforce a mortgage, pledge or other...

Section 130.440 - Petition to close case. - (2) Upon the filing of the petition to close the...

Section 130.445 - Dismissal for want of prosecution. - (2) If an application for a continuance is not made...

Section 130.450 - Consolidation of proceedings. - (1) Order a joint hearing or trial on the common...

Section 130.500 - UTC 601. Revocable trusts generally. - (2) A revocable trust remains a revocable trust for the...

Section 130.505 - UTC 602. Revocation or amendment of revocable trust. - (2) Unless the trust expressly provides otherwise, if a revocable...

Section 130.510 - UTC 603. Settlor’s powers; powers of withdrawal. - (2) The rights of the beneficiaries with respect to property...

Section 130.515 - UTC 604. Limitation on action contesting validity of revocable trust; distribution of trust property. - (a) Three years after the settlor’s death; or (b) Four...

Section 130.518 - Creditor protections retained upon conveyance of property held as tenants by the entirety to revocable trust. - (a) The spouses remain married to each other; (b) The...

Section 130.525 - Applicability of ORS 130.530, 130.535 and 130.540 to 130.575. - (a) That comes into existence during the settlor’s lifetime; and...

Section 130.535 - Revocation by divorce or annulment. - (a) Revokes all provisions of the trust in favor of...

Section 130.545 - Encumbrance or disposition of property after trust instrument executed. - (1) A disposition of a portion of property that is...

Section 130.555 - Children of settlors; pretermitted children. - (2) If a settlor has one or more children living...

Section 130.560 - Failure of specific distribution. - (a) The trust instrument provides that the specific distribution fails...

Section 130.575 - Effect of advancement on distribution. - (2) For the purpose of determining the shares of the...

Section 130.600 - UTC 701. Acceptance or rejection of trusteeship. - (a) By substantially complying with a method of acceptance provided...

Section 130.605 - UTC 702. Trustee’s bond. - (2) The court may specify the amount and terms of...

Section 130.610 - UTC 703. Cotrustees. - (2) If a vacancy occurs in a cotrusteeship, the remaining...

Section 130.615 - UTC 704. Vacancy in trusteeship; appointment of successor. - (a) A person designated as trustee rejects the trusteeship; (b)...

Section 130.620 - UTC 705. Resignation of trustee. - (a) After at least 30 days’ notice to the qualified...

Section 130.625 - UTC 706. Removal of trustee. - (2) A court may remove a trustee if the court...

Section 130.630 - UTC 707. Delivery of property by former trustee; report. - (2) A trustee who has resigned or been removed shall...

Section 130.635 - UTC 708. Compensation of trustee. - (2) If the terms of a trust specify the trustee’s...

Section 130.640 - UTC 709. Reimbursement of expenses. - (a) Expenses that were properly incurred in the administration of...

Section 130.650 - UTC 801. Duty to administer trust. - (2) A trustee is not required to object to a...

Section 130.655 - UTC 802. Duty of loyalty. - (2) Subject to the rights of persons dealing with or...

Section 130.680 - UTC 807. Delegation by trustee. - (a) Selecting an agent; (b) Establishing the scope and terms...

Section 130.685 - UTC 808. Powers to direct. - (2) If the terms of a trust confer upon a...

Section 130.695 - UTC 810. Recordkeeping and identification of trust property. - (2) A trustee shall keep trust property separate from the...

Section 130.710 - UTC 813. Duty to inform and report. - (2)(a) Upon request of a qualified beneficiary, a trustee shall...

Section 130.715 - UTC 814. Discretionary powers; tax savings; inclusion of capital gains in income. - (2) Subject to subsection (4) of this section, and unless...

Section 130.720 - UTC 815. General powers of trustee. - (a) All powers over the trust property that an unmarried...

Section 130.725 - UTC 816. Specific powers of trustee. - (1) Collect trust property and accept or reject additions to...

Section 130.730 - UTC 817. When interest of beneficiary vests; distribution upon termination. - (2) Unless a will or trust clearly indicates a contrary...

Section 130.733 - Notice of proposed trustee action to beneficiaries; right of beneficiary to object. - (2) The right of a beneficiary receiving a notice of...

Section 130.735 - Appointment of adviser; liability of trustee. - (2) If a trust instrument provides that a trustee is...

Section 130.750 - Trustee’s duty to comply with prudent investor rule. - (2) The prudent investor rule is a default rule that...

Section 130.755 - Prudent investor rule. - (2) A trustee’s investment and management decisions respecting individual assets...

Section 130.800 - UTC 1001. Remedies for breach of trust. - (2) To remedy a breach of trust that has occurred...

Section 130.805 - UTC 1002. Damages for breach of trust. - (a) The amount of damages caused by the breach; (b)...

Section 130.810 - UTC 1003. Damages in absence of breach. - (2) Unless there is a breach of trust, a trustee...

Section 130.820 - UTC 1005. Limitation of action against trustee. - (2) A beneficiary may not commence a proceeding against a...

Section 130.835 - UTC 1008. Exculpation of trustee. - (a) Relieves the trustee of liability for breach of trust...

Section 130.840 - UTC 1009. Beneficiary’s consent, release or ratification. - (1) The consent, release or ratification of the beneficiary was...

Section 130.845 - UTC 1010. Limitation on personal liability of trustee. - (2) A trustee is personally liable for torts committed in...

Section 130.850 - UTC 1011. Interest as general partner. - (2) Except as otherwise provided in subsection (3) of this...

Section 130.855 - UTC 1012. Protection of person dealing with trustee. - (2) A person other than a beneficiary who deals with...

Section 130.860 - UTC 1013. Certification of trust. - (2) The certification of trust shall contain the following information:...

Section 130.900 - Uniformity of application and construction. - Note: 130.900 to 130.910 were enacted into law by the...

Section 130.905 - UTC 1102. Electronic records and signatures. - Note: See note under 130.900.

Section 130.910 - UTC 1106. Application. - (a) ORS chapter 130 applies to all trusts created before,...

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2021 Oregon Revised Statutes Volume : 03 - Landlord-Tenant, Domestic Relations, Probate Chapter 130 - Uniform Trust Code

2021 Oregon Revised Statutes
Volume : 03 - Landlord-Tenant, Domestic Relations, Probate
Chapter 130 - Uniform Trust Code