Also known as: take control · takes control · took control · taking controls · control of collateral
Written by attorneys · grounded in primary & secondary sources — see below
A trustee's duty to take reasonable steps to assume dominion over and protect trust property.
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After the grantor’s death, trustee Tristan Thompson learns that several trust-owned parcels of real estate remain titled in the decedent’s name and that a distant relative has begun collecting rents. Thompson immediately records the trust’s interest, changes the locks, and notifies tenants to remit payments to the trust account. These steps satisfy the obligation to take control of and protect the trust property.
After learning that trust-owned securities remain registered in the decedent’s brokerage account, trustee Tristan Thompson obtains a court order directing the broker to retitle the holdings in the trust’s name and freezes further trading. These actions fulfill the duty to take control of and protect the trust property.
The trustee must take affirmative, reasonable steps to assume dominion, such as changing title, securing physical assets, or notifying third parties that the property belongs to the trust. Passive awareness of the assets is insufficient.
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No. The obligation extends to all trust property, including real estate, securities, and intangible rights, whenever the trustee learns that assets are not yet under the trust’s legal control.
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