Where lands are devised to be sold on special or general trust, or are conveyed or devised to trustees or executors in trust to be sold generally or for any specific purpose, the purchaser shall not be bound to look to the application of the purchase money, unless so expressly required by the conveyance or devise.
KRS 394.530
Purchaser of trust estate -- When required to see to application
Applied in 2 court decisions — leading case Rohleder v. French (1984)
Most recently applied in Rohleder v. French (April 1984)
Effective: October 1, 1942 History: Recodified 1942 Ky
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.