Georgia § 53-12-301 Actions for breach of trust

Georgia Statutes

§ 53-12-301 — Actions for breach of trust

(a)If a trustee commits a breach of trust, or threatens to commit a breach of trust, a beneficiary shall have a cause of action to seek:

(1)To recover damages;

(2)To compel the trustee to perform the trustee's duties;

(3)To require an accounting;

(4)To enjoin the trustee from committing a breach of trust;

(5)To compel the trustee to redress a breach of trust by payment of money or otherwise;

(6)To appoint a temporary trustee to take possession of the trust property and administer the trust or to suspend a trustee with or without the appointment of a temporary trustee;

(7)To remove the trustee; and (8) To reduce or deny compensation of the trustee.

(b)When trust assets are misapplied and can be traced in the hands of persons affected with notice of the misapplication, the trust sha

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(a) If a trustee commits a breach of trust, or threatens to commit a breach of trust, a beneficiary shall have a cause of action to seek: (1) To recover damages; (2) To compel the trustee to perform the trustee's duties; (3) To require an accounting; (4) To enjoin the trustee from committing a breach of trust; (5) To compel the trustee to redress a breach of trust by payment of money or otherwise; (6) To appoint a temporary trustee to take possession of the trust property and administer the trust or to suspend a trustee with or without the appointment of a temporary trustee; (7) To remove the trustee; and (8) To reduce or deny compensation of the trustee. (b) When trust assets are misapplied and can be traced in the hands of persons affected with notice of the misapplication, the trust shall attach to such assets. A creditor of a trust may follow assets in the hands of beneficiaries even if they were received without notice. (c) The remedy set forth in subsection (c) of Code Section 53-12-363 shall be the exclusive remedy for an abuse of discretion as provided in Code Sections 53-12-361 and 53-12-362 . (d) The provision of remedies for breach of trust shall not prevent resort to any other appropriate remedy provided by statute or common law.

Georgia § 53-12-301 (Actions for breach of trust) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.