Arizona Laws 14-7502. Application of payments made to fiduciaries
Current as of: 2024 | Check for updates
|
Other versions
A person who in good faith pays or transfers to a fiduciary any money or other property which the fiduciary as such is authorized to receive, is not responsible for the proper application thereof by the fiduciary; and any right or title acquired from the fiduciary in consideration of such payment or transfer is not invalid in consequence of a misapplication by the fiduciary.
Terms Used In Arizona Laws 14-7502
- Application: means a written request to the registrar for an order of informal probate or appointment under chapter 3, article 3 of this title. See Arizona Laws 14-1201
- Fiduciary: A trustee, executor, or administrator.
- Fiduciary: includes a trustee under any trust, expressed, implied, resulting or constructive, executor, administrator, guardian, conservator, curator, receiver, trustee in bankruptcy, assignee for the benefit of creditors, partner, agent, officer of a corporation, public or private, public officer, or any other person acting in a fiduciary capacity for any person, trust or estate. See Arizona Laws 14-7501
- Person: includes a corporation, partnership, or other association, or two or more persons having a joint or common interest. See Arizona Laws 14-7501
- Property: includes both real and personal property. See Arizona Laws 1-215