Revised Code of Washington (RCW) (Last Updated: August 9, 2016) |
Title 11. PROBATE AND TRUST LAW |
Chapter 11.98. Trusts. |
Section 11.98.105. Nonliability of third persons without knowledge of breach.
Latest version.
- (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.NOTES:Application—Effective date—2011 c 327: See notes following RCW 11.103.020.