Tennessee § 35-15-1012 Protection of person dealing with trustee

Tennessee Statutes

§ 35-15-1012 — Protection of person dealing with trustee

Tennessee § 35-15-1012

Title35

This text of Tennessee § 35-15-1012 (Protection of person dealing with trustee) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 35-15-1012 (2026).

Text

(a)A person other than a beneficiary who in "good faith", as defined in § 47-1-201 , 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.

(b)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.

(c)A person who in "good faith" delivers assets to a trustee need not ensure their proper application.

(d)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 tru

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(a) A person other than a beneficiary who in "good faith", as defined in § 47-1-201 , 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. (b) 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. (c) A person who in "good faith" delivers assets to a trustee need not ensure their proper application. (d) 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. (e) Comparable protective provisions of other laws, see §§ 47-8-101 - 47-8-407, relating to commercial transactions or transfer of securities by fiduciaries prevail over the protection provided by this section.