Liability of beneficiary joining in breach of trust: beneficial interest may be impounded until loss is compensated. Where a beneficiary joins in, benefits from, conceals, or induces a trustee to commit a breach of trust, other beneficiaries may have that beneficiary's beneficial interest impounded against the defaulting beneficiary and those claiming under them until losses are compensated; bona fide transferees for consideration without notice are not affected, and property settled for the benefit of a married woman who cannot deprive herself of the interest is excluded during her marriage.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Liability of beneficiary joining in breach of trust: beneficial interest may be impounded until loss is compensated.
Where a beneficiary joins in, benefits from, conceals, or induces a trustee to commit a breach of trust, other beneficiaries may have that beneficiary's beneficial interest impounded against the defaulting beneficiary and those claiming under them until losses are compensated; bona fide transferees for consideration without notice are not affected, and property settled for the benefit of a married woman who cannot deprive herself of the interest is excluded during her marriage.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.