Termination of Trust Law and Legal Definition

Termination of trust is the termination of the relationship of trustee and beneficiary compliant with the limitations or conditions of the trust, although not before the trustee has accounted to the beneficiary and the latter has received all the property and funds due him. The expression termination of the trust included not only the final transfer of the trust estate to the beneficiary, but also the resignation or discharge of the trustee named in the deed and the transfer of the trust fund by it to a new trustee. [Haas v. Hudson County Nat'l Bank, 115 N.J. Eq. 311 (E. & A. 1934)].