If there are 3 co-trustees and 2 co-trustees want to sell a piece of the property but 1 co-trustee does not, do the 3 co-trustees have to be in agreement or is it based on a majority decision?
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If there are 3 co-trustees and 2 co-trustees want to sell a piece of the property but 1 co-trustee does not, do the 3 co-trustees have to be in agreement or is it based on a majority decision?
The revocable Trust does not state that the co-trustees must act in agreement or if a majority 2 out of 3 decision will work.
Asked on September 11, 2015 under Estate Planning, California
Answers:
M.H., Member, California Bar / M.H., Member, California Bar
Answered 8 years ago | Contributor
Cal Probate Code section 15620 titled " by co-trustees" states that unless otherwise provided in the trust instrument, a power vested in two or more trustees may only be exercised by their unanimous action. Here, 2 of the trustees does not equate to an unanimous decision.
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