Upon the death of a sole trustee or the surviving trustee of an express trust created by any written instrument affecting title to real property, the trust shall not descend to the heirs of such trustee nor pass to his personal representative, but the trust if then unexecuted shall vest in the then public trustee and his successors in office of the county wherein the real estate is situate, with all powers of the original trustee. The district court may, upon application of any party in interest, appoint a new trustee except in such cases where by law or by the instrument a successor in trust is provided, and in such cases the trust shall vest in such successor.
Source: L. 27: p. 606, § 48. CSA: C. 40, § 155. CRS 53: § 118-8-5. C.R.S. 1963: § 1188-5.
Cross references: For succession of title to property held in trust for churches or religious societies, see § 7-52-105.