Indiana Statutes
§ 30-4-3-20 — Liability of beneficiary
(Liability of Beneficiary)
(a)A beneficiary is liable for loss to the trust estate if he has:
(1)misappropriated or otherwise wrongfully dealt with the trust
property;
(2)expressly consented to, participated in or agreed with the trustee
to be liable for a breach of trust committed by the trustee;
(3)failed to repay an advance or loan of trust funds;
(4)failed to repay a distribution or disbursement from the trust
estate in excess of that to which he is entitled; or
(5)breached a contract to pay money or deliver property to the
trustee to be held by the trustee as part of the trust estate.
(b)Unless the terms of the trust provide otherwise a beneficiary of
a trust is liable to the extent of his interest in the trust estate for the
amount of any debt owed the trust estate by him.
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Nearby Sections
15
§ 30-1-2-1
Stocks; bonds; securities§ 30-1-2-2
Securities not listed; terms§ 30-1-4-1
Eligible investments§ 30-1-5-1
Securities; insurance§ 30-1-6-3
Bidding; report; hearing; endorsement§ 30-1-6-5
Acts conclusive; disaffirmance denied§ 30-1-7-2
Petition to execute options; prospectus§ 30-1-7-3
Hearing; order of court§ 30-1-7-4
Binding and conclusive; disaffirmance§ 30-1-8-1
Definitions