Iowa Code 633A.4502 – Breach of trust — actions
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Terms Used In Iowa Code 633A.4502
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Lien: A claim against real or personal property in satisfaction of a debt.
- property: includes personal and real property. See Iowa Code 4.1
- Trustee: A person or institution holding and administering property in trust.
633A.4502 Breach of trust — actions.
1. Except as provided in § 633A.4213, to remedy a breach of trust which has occurred or may occur, a beneficiary or cotrustee of the trust may request the court to do any of the following:
a. Compel the trustee to perform the trustee’s duties.
b. Enjoin the trustee from committing a breach of trust.
c. Compel the trustee to redress a breach of trust by payment of money or otherwise.
d. Appoint a receiver or temporary trustee to take possession of the trust property and administer the trust.
e. Remove the trustee.
f. Reduce or deny compensation to the trustee.
g. Subject to § 633A.4603, nullify an act of the trustee, impose an equitable lien or a constructive trust on trust property, or trace trust property wrongfully disposed of and recover the property or its proceeds.
h. Order any other appropriate relief.
2. The exception created in subsection 1 of this section does not apply to any trust created prior to July 1, 2002.
99 Acts, ch 125, §74, 109
C2001, §633.4502
2002 Acts, ch 1107, §16; 2005 Acts, ch 38, §54, 55
CS2005, §633A.4502
2009 Acts, ch 52, §10; 2010 Acts, ch 1137, §8
1. Except as provided in § 633A.4213, to remedy a breach of trust which has occurred or may occur, a beneficiary or cotrustee of the trust may request the court to do any of the following:
a. Compel the trustee to perform the trustee’s duties.
b. Enjoin the trustee from committing a breach of trust.
c. Compel the trustee to redress a breach of trust by payment of money or otherwise.
d. Appoint a receiver or temporary trustee to take possession of the trust property and administer the trust.
e. Remove the trustee.
f. Reduce or deny compensation to the trustee.
g. Subject to § 633A.4603, nullify an act of the trustee, impose an equitable lien or a constructive trust on trust property, or trace trust property wrongfully disposed of and recover the property or its proceeds.
h. Order any other appropriate relief.
2. The exception created in subsection 1 of this section does not apply to any trust created prior to July 1, 2002.
99 Acts, ch 125, §74, 109
C2001, §633.4502
2002 Acts, ch 1107, §16; 2005 Acts, ch 38, §54, 55
CS2005, §633A.4502
2009 Acts, ch 52, §10; 2010 Acts, ch 1137, §8