§ 1506. Nonliability for acts of predecessor executor\n A trustee who was not an executor of the estate of the same decedent\nshall not be liable for breach of trust committed by the executor in any\nof the following cases:\n 1. He received the assets of the trust pursuant to a final decree of\nthe court.\n 2. He did not know of a situation constituting a breach of trust\ncommitted by the executor, and does not improperly permit it to\ncontinue.\n 3. He does not neglect to take proper steps to compel the executor to\ndeliver trust property to him.\n 4. He does not neglect to take proper steps to redress a breach of\ntrust committed by the executor.\n
N.Y. Surr. Ct. Proc. Act § 1506
Nonliability for acts of predecessor executor A trustee who was not an executor of the estate of the same decedent shall not be liable fo..
2014-09-22
Official source: NYS Open Legislation (New York State Senate). Reproduced from public-domain New York statutes; confirm against the official source for the current text. Not legal advice.