Laws of New York (Last Updated: November 21, 2014) |
EPT Estates, Powers and Trusts |
Article 7. TRUSTS |
Part 3. RIGHTS OF PURCHASERS, CREDITORS AND OTHER PERSONS |
Section 7-3.3. Person paying money to the trustee protected
Latest version.
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A person who in good faith transfers money or property to a trustee is not responsible for the proper application of such money or property; and any right or title derived by him from the trustee in consideration of such transfer is not affected by the trustee's misapplication of such money or property.