December 11, 2018
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The Florida Statutes

The 2010 Florida Statutes(including Special Session A)

Title XLII
ESTATES AND TRUSTS
Chapter 736
FLORIDA TRUST CODE
View Entire Chapter
F.S. 736.1016
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.s. 10, ch. 2006-217.
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