Michigan § 700.7111 - Nonjudicial settlement agreement.
Full text of Michigan Michigan Compiled Laws § 700.7111 — Nonjudicial settlement agreement., with citation guidance and answers to common questions.
§ 700.7111. Nonjudicial settlement agreement.
(1) Except as otherwise provided in subsection (2), interested persons may enter into a binding nonjudicial settlement agreement with respect to any matter involving a trust.
(2) A nonjudicial settlement agreement is valid only to the extent it does not violate a material purpose of the trust and includes terms and conditions that could be properly approved by the court under this article or other applicable law. A nonjudicial settlement agreement shall not be used to accomplish the termination or modification of the trust.
(3) Matters that may be resolved by a nonjudicial settlement agreement include any of the following:
(a) The interpretation or construction of the terms of the trust.
(b) The approval of a trustee's report or accounting.
(c) Direction to a trustee to perform or to refrain from performing a particular act or to grant to or to withhold from a trustee any power.
(d) The resignation or appointment of a trustee and the determination of a trustee's compensation.
(e) Transfer of a trust's principal place of administration.
(f) Liability of a trustee for an action relating to the trust.
(4) Any interested person or trustee may request the court to approve or disapprove a nonjudicial settlement agreement. On a determination that the representation as provided in part 3 was adequate, that the agreement does not violate a material purpose of the trust, and that the agreement contains terms and conditions the court could have properly approved, the court shall enter an order approving the agreement.
(5) As used in this section, "interested persons" means persons whose consent would be required in order to achieve a binding settlement were the settlement to be approved by the court.
Frequently Asked Questions About Michigan § 700.7111
What does Michigan Compiled Laws § 700.7111 cover?
Section 700.7111 ("Nonjudicial settlement agreement.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 700.7111?
A common citation format is "Michigan Compiled Laws § 700.7111" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 700.7111 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.