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Indiana Code Title 30. Trusts and Fiduciaries § 30-4-4-2

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 2. (Transfers by the Trustee to Third Persons)

(a) If, in transferring an interest in trust property to a third party, the trustee is not committing a breach of trust, the transferee holds the interest free of the trust and incures   1 no liability to the beneficiary.

(b) A third person, to whom an interest in trust property is transferred by the trustee in breach of trust, takes his interest free of the trust if he:

(1) takes for value and without notice of the breach of trust;  and

(2) is not taking part in what he knows to be an illegal transaction.

1  So in Enrolled Act.
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Cite this article: FindLaw.com - Indiana Code Title 30. Trusts and Fiduciaries § 30-4-4-2 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-30-trusts-and-fiduciaries/in-code-sect-30-4-4-2/

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