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.

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Terms Used In Arizona Laws 14-7502

  • Application: means a written request to the registrar for an order of informal probate or appointment under chapter 3, article 3 of this title. See Arizona Laws 14-1201
  • Fiduciary: A trustee, executor, or administrator.
  • Fiduciary: includes a trustee under any trust, expressed, implied, resulting or constructive, executor, administrator, guardian, conservator, curator, receiver, trustee in bankruptcy, assignee for the benefit of creditors, partner, agent, officer of a corporation, public or private, public officer, or any other person acting in a fiduciary capacity for any person, trust or estate. See Arizona Laws 14-7501
  • Person: includes a corporation, partnership, or other association, or two or more persons having a joint or common interest. See Arizona Laws 14-7501
  • Property: includes both real and personal property. See Arizona Laws 1-215
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