Vacating the Trustee

28 Jul

From: Charles Cox [mailto:charles@bayliving.com]
Sent: Sunday, May 06, 2012 5:30 PM
To: Charles Cox
Subject: Vacating the Trustee

Reading the Codes, I ran across this I was wondering about:

Cal.Civ.Code

2934b. Sections 15643 and 18102 of the Probate Code apply to trustees under deeds of trust given to secure obligations.

Cal. Probate Code

15643. There is a vacancy in the office of trustee in any of the following circumstances:

(a) The person named as trustee rejects the trust.

(b) The person named as trustee cannot be identified or does not exist.

(c) The trustee resigns or is removed.

(d) The trustee dies.

(e) A conservator or guardian of the person or estate of an individual trustee is appointed.

(f) The trustee is the subject of an order for relief in bankruptcy.

(g) A trust company’s charter is revoked or powers are suspended, if the revocation or suspension is to be in effect for a period of 30 days or more.

(h) A receiver is appointed for a trust company if the appointment is not vacated within a period of 30 days.

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