New Jersey Renunciation of Trusteeship

State:
New Jersey
Control #:
NJ-SKU-0626
Format:
PDF
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Description

Renunciation of Trusteeship New Jersey Renunciation of Trusteeship is a legal document that allows a trustee to relinquish the responsibility of managing or controlling a trust. A trust is a legal agreement between a granter (person who creates the trust) and a trustee (person who manages the trust). When a trustee renounces their trusteeship, they terminate their legal obligations and duties regarding the trust. There are two types of New Jersey Renunciation of Trusteeship: an absolute renunciation and a limited renunciation. An absolute renunciation is a full relinquishment of all obligations and duties of the trustee, while a limited renunciation is a more specific relinquishment of certain duties or rights of the trustee. Both types require the signature of the trustee, the granter, and a witness. The Renunciation must also be notarized and filed with the Surrogate’s Court in the county in which the trust is located.

New Jersey Renunciation of Trusteeship is a legal document that allows a trustee to relinquish the responsibility of managing or controlling a trust. A trust is a legal agreement between a granter (person who creates the trust) and a trustee (person who manages the trust). When a trustee renounces their trusteeship, they terminate their legal obligations and duties regarding the trust. There are two types of New Jersey Renunciation of Trusteeship: an absolute renunciation and a limited renunciation. An absolute renunciation is a full relinquishment of all obligations and duties of the trustee, while a limited renunciation is a more specific relinquishment of certain duties or rights of the trustee. Both types require the signature of the trustee, the granter, and a witness. The Renunciation must also be notarized and filed with the Surrogate’s Court in the county in which the trust is located.

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New Jersey Renunciation of Trusteeship