§ 53-12-308. Personal Liability of Trustee
A trustee shall not be personally liable on any warranty made in any conveyance unless the intention to create a personal liability is distinctly expressed. Unless otherwise provided in the contract, a trustee shall not be personally liable on contracts properly entered into in the trustee’s fiduciary capacity unless the trustee fails to reveal the […]
§ 53-12-300. Accountable to Beneficiary; Breach of Trust
The trustee shall be accountable to the beneficiary for the trust property. A violation by the trustee of any duty that the trustee owes the beneficiary shall be a breach of trust. History. Code 1981, § 53-12-300 , enacted by Ga. L. 2010, p. 579, § 1/SB 131. Cross references. Registration of securities generally, § […]
§ 53-12-301. Actions for Breach of Trust
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: To recover damages; To compel the trustee to perform the trustee’s duties; To require an accounting; To enjoin the trustee from committing a breach of trust; To compel the […]
§ 53-12-302. Damages for Breach of Trust; Interest
A trustee who commits a breach of trust shall be personally chargeable with any damages resulting from such breach of trust, including, but not limited to: Any loss or depreciation in value of the trust property as a result of such breach of trust, with interest; Any profit made by the trustee through such breach […]
§ 53-12-303. Relief of Liability
No provision in a trust instrument shall be effective to relieve the trustee of liability for a breach of trust committed in bad faith or with reckless indifference to the interests of the beneficiaries. A trustee of a revocable trust shall not be liable to a beneficiary for any act performed or omitted pursuant to […]
§ 53-12-304. Liability of Successor Trustee
A successor trustee shall be liable to the beneficiary for breach of trust involving acts or omissions of a predecessor trustee only if the successor trustee: Knows or reasonably should have known of a situation constituting a breach of trust committed by the predecessor trustee and the successor trustee improperly permits it to continue; Neglects […]
§ 53-12-305. Liability of Cotrustee
A trustee shall be liable to the beneficiary for a breach committed by a cotrustee if such trustee: Participates in a breach of trust committed by the cotrustee; Improperly delegates the administration of the trust to the cotrustee; Approves, knowingly acquiesces in, or conceals a breach of trust committed by the cotrustee; Negligently enables the […]
§ 53-12-306. Action Against Cotrustee
A trustee may maintain an action against a cotrustee to: Compel the cotrustee to perform duties required under the trust; Enjoin the cotrustee from committing a breach of trust; or Compel the cotrustee to redress a breach of trust committed by such cotrustee. The provision of remedies for a breach of trust shall not prevent […]
§ 53-12-307. Limitation of Actions
Unless a claim is previously barred by adjudication, consent, limitation, or otherwise, if a beneficiary has received a written report that adequately discloses the existence of a claim against the trustee for a breach of trust, the claim shall be barred as to that beneficiary unless a proceeding to assert the claim is commenced within […]