This form is a Release and Cancellation of Trust Agreement / Trust Indenture. All liens and encumberances created thereby are certified to be satisfied and released. Adapt to fit your circumstances.
Florida Release and Cancellation of Trust Agreement - Trust Indenture
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FAQ
Generally, the indenture trustee handles administrative matters relating to the securities and ensures that the issuer complies with the terms of the indenture governing the terms of the securities and the rights and obligations of the issuer, the trustee and the holders.
A trust can be terminated for the following reasons: The trust assets have been fully distributed, making it uneconomical to continue with the trust. The money remaining in the trust makes it uneconomical to continue with the trust. The trust has served its purpose in terms of its stated objective.
Florida has a relatively simple procedure for terminating trusts, but this provision only applies to trusts created after January 1, 2001. After the trustmaker's death, an irrevocable trust may be terminated in whole or part upon the unanimous agreement of the trustee and all qualified beneficiaries.
The common law however makes provision for the termination of a trust by operation of law in the following circumstances, by statute, fulfillment of the object of the trust, failure of the beneficiary, renunciation or repudiation by the beneficiary, destruction of the trust property, or the operation of a resolutive
A trust indenture is a contract entered into by a bond issuer and an independent trustee to protect the interests of bondholders. The SEC must approve this document. The trust indenture highlights the terms and conditions that the issuer, lender, and trustee must adhere to during the life of the bond.
For all other grounds for termination, you must file a petition and obtain court approval in order to terminate an irrevocable trust in Florida. Besides termination, there may be other legal remedies to consider: Removal or replacement of the trustees.
The agreement entered into by the issuer, and the trustee is referred to as the trust indenture. A trust indenture is a legal and binding contract that is created to protect the interests of bondholders.
A: Yes. If both parties agree, the document can be revoked by consent.
2.01 Subsection 82(1) of the CBCA defines a trust indenture as any deed, indenture or other instrument, including any supplement or amendment thereto, made by a corporation after its incorporation or continuance under this Act, under which the corporation issues debt obligations and in which a person is appointed as
On what grounds can a trustee be removed? There are several grounds which would justify a trustee being removed: Breach of trust the trustee has failed to follow the terms of the trust document. Death of a trustee being a trustee is a personal role, it cannot be passed onto the deceased' trustee's executors.