Sec. 13. (Liability of a Successor Trustee)
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Terms Used In Indiana Code 30-4-3-13
- Breach of trust: means a violation by the trustee of any duty which is owed to the settlor or beneficiary. See Indiana Code 30-4-1-2
- Trust property: means property either placed in trust or purchased or otherwise acquired by the trustee for the trust regardless of whether the trust property is titled in the name of the trustee or the name of the trust. See Indiana Code 30-4-1-2
- Trustee: A person or institution holding and administering property in trust.
- Trustee: has the meaning set forth in IC 30-2-14-13. See Indiana Code 30-4-1-2
(a) fails to take whatever action is necessary to compel the predecessor trustee to deliver the trust property; or
(b) fails to make a reasonable effort to compel a redress of a breach of trust committed by the predecessor trustee.
Formerly: Acts 1971, P.L.416, SEC.4.
