termination of trust

termination of trust
The termination of the relationship of trustee and beneficiary in accordance with the limitations or conditions of the trust, although not before the trustee has accounted to the beneficiary and the latter has received all the property and funds due him. 54 Am J1st Trusts § 70. The expression includes not only the final transfer of a trust estate to the beneficiary, but also the resignation or discharge of the trustee named in the deed and the transfer of the trust fund by it to a new trustee. Haas v Hudson County Nat. Bank, 115 NJ Eq 311, 170 A 611, 94 ALR 1099.

Ballentine's law dictionary. . 1998.

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