Surviving Trustor Authorized to Use Residence Sample Clauses

Surviving Trustor Authorized to Use Residence. The surviving Trustor shall have the right to continue to occupy all real property in the trust estate that Trustors were using for residential purposes at the time of the predeceased Trustor’s death (whether on a full or part-time basis, including resort property); provided, however, that the surviving Trustor, in his or her discretion, may direct the Trustee to sell any such property and replace it with or rent or lease another residence selected by the surviving Trustor of comparable or lower value. The Trustee shall pay such portion of any mortgage or trust deed payments, and such portion of any property taxes, assessments, insurance, maintenance, and repairs on all such property, or such portion of any rent or lease payments, out of the principal or income of the Family Trust, as represents the Family Trust’s proportionate interest in any such property. The remaining portion of such payments and expenses shall be paid by the surviving Trustor personally or, pursuant to the surviving Trustor’s instructions, may be paid from the Marital Trust.
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