Trust-property reversion: trustee who later acquires wrongfully converted trust property restores it to the trust despite bona fide intervening purchasers. Where a trustee wrongfully alienates trust assets but subsequently becomes the owner of those assets, the assets revest in the trust and continue to be ... Summary
Trust-property reversion: trustee who later acquires wrongfully converted trust property restores it to the trust despite bona fide intervening purchasers.
Where a trustee wrongfully alienates trust assets but subsequently becomes the owner of those assets, the assets revest in the trust and continue to be held for the beneficiaries, even if intervening transferees acquired in good faith for consideration without notice.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
