Liquidating trust form
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The trustees shall at all times keep full and proper books of accounts and records of their proceedings and doings, and shall, at least annually, render account of the trust to any beneficiary requesting it but no trustees8.These downloadable forms are only for personal use.Retransmission, redistribution, or any other commercial use is prohibited.In trust, pending final conversion and distribution of the property, to manage and control it, the trustees having, for those purposes and for all purposes of sale, lease, mortgage, exchange, improvement and development, and any and all arrangements, contracts and dispositions of the trust property, or any part, all and as full discretionary powers and authority as they would have if they were themselves the sole and absolute beneficial owners in fee simple.3.
In trust to collect and receive all rents and income from the property, and semiannually or more often at their convenience, to distribute any portion as they may, in their discretion, determine to be fairly distributable net income, to and among the several trusts according to their respective fractional interests.
The trustees shall be entitled to receive reasonable compensation for service not exceeding a total of one percent reckoned upon the gross income received by them, unless, at any time, a majority in interest of the trusts consent in writing to some larger compensation for any past service.