North Carolina General Statutes 32-3. Application of payments made to fiduciaries
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Terms Used In North Carolina General Statutes 32-3
- Fiduciary: A trustee, executor, or administrator.
- property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
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. (1923, c. 85, s. 2; C.S., s. 1864(f).)