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Fla. Stat. § 736.1016 – Florida Statutes

Text of Fla. Stat. § 736.1016

Protection of person dealing with trustee.—

(1) A person other than a beneficiary who in good faith assists a trustee or who in good faith and for value deals with a trustee, without knowledge that the trustee is exceeding or improperly exercising the trustee’s powers, is protected from liability as if the trustee properly exercised the power.

(2) A person other than a beneficiary who in good faith deals with a trustee is not required to inquire into the extent of the trustee’s powers or the propriety of their exercise.

(3) A person who in good faith delivers assets to a trustee need not ensure their proper application.

(4) A person other than a beneficiary who in good faith assists a former trustee or who in good faith and for value deals with a former trustee, without knowledge that the trusteeship has terminated, is protected from liability as if the former trustee were still a trustee.

(5) Comparable protective provisions of other laws relating to commercial transactions or transfer of securities by fiduciaries prevail over the protection provided by this section.

History of Fla. Stat. § 736.1016

Fla. Stat. § 736.1016 became law on July 1, 2007 as part of the Florida Trust Code. It has not been amended or revised since that date.

Cases Citing Fla. Stat. § 736.1016

Currently, no cases cite or reference Fla. Stat. § 736.1016.