Maine § 18-B §1009 Beneficiary's consent, release or ratification

Maine Statutes

§ 18-B §1009 — Beneficiary's consent, release or ratification

Maine·Title 18-B TRUSTS·Part 1 MAINE UNIFORM TRUST CODE·Ch. 10 LIABILITY OF TRUSTEES AND RIGHTS OF PERSONS DEALING WITH TRUSTEE

A trustee is not liable to a beneficiary for breach of trust if the beneficiary consented to the conduct constituting the breach, released the trustee from liability for the breach or ratified the transaction constituting the breach, unless:

1.Induced by improper conduct. The consent, release or ratification of the beneficiary was induced by improper conduct of the trustee; or

2.Beneficiary did not know rights. At the time of the consent, release or ratification, the beneficiary did not know of the beneficiary's rights or of the material facts relating to the breach.

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A trustee is not liable to a beneficiary for breach of trust if the beneficiary consented to the conduct constituting the breach, released the trustee from liability for the breach or ratified the transaction constituting the breach, unless:
1.
Induced by improper conduct.
The consent, release or ratification of the beneficiary was induced by improper conduct of the trustee; or
2.
Beneficiary did not know rights.
At the time of the consent, release or ratification, the beneficiary did not know of the beneficiary's rights or of the material facts relating to the breach.

Maine § 18-B §1009 (Beneficiary's consent, release or ratification) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.