Sec. 1. (Presumption of Trustee’s Authority) (a) Except as provided in subsection (b) of this section, any third person dealing with the trustee or assisting him in conducting a transaction: (1) may assume without inquiry that the trustee has the powers he purports to exercise and has exercised them properly; and (2) shall not be […]
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 no liability to the beneficiary. (b) A third person, to whom an interest […]
Sec. 3. (Judgment Lien against the Trustee or Beneficiary) (a) A judgment against a person individually who may also be a trustee shall not be a lien against the trust estate. (b) When trust property is properly sold or disposed of by the trustee to a third person, the liens against a beneficiary’s interest in […]
Sec. 4. (Disclosure of Information Concerning Beneficiaries) (a) Any person may petition the court for disclosure of information concerning beneficiaries or the trust estate. The court may order the disclosure of all or any part of the information requested in the petition only after the petitioner has shown both a reasonable need for it and […]
Sec. 5. (a) A trustee may furnish to a person other than a beneficiary a certification of trust instead of a copy of the trust instrument. The certification of trust must contain the following information: (1) That the trust exists and the date the trust instrument was executed. (2) The identity of the settlor. (3) […]
