Section 102 — Trusts Act 2019: Devolution of powers on death of trustee

102 Devolution of powers on death of trustee (1) If a power or function is vested in or imposed on 2 or more trustees jointly and 1 or more of those trustees dies, the surviving trustees (if any) may exercise the power or perform the function until a replacement trustee (if any) is appointed. (2) If a sole trustee or the last surviving or continuing trustee dies, the personal representative of the trustee— (a) may exercise, for a reasonable period of time, any power or perform any function that was vested in, or capable of being exercised or performed by, that trustee; but (b) is not a trustee for the purposes of subsection (1). Compare: 1956 No 61 s 23