Arizona Laws 33-820. Trustee’s right to rely; attorney’s right to act for trustee and beneficiary
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A. In carrying out his duties under the provisions of this chapter or any deed of trust, a trustee, shall when acting in good faith, have the absolute right to rely upon any written direction or information furnished to him by the beneficiary.
Terms Used In Arizona Laws 33-820
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Beneficiary: means the person named or otherwise designated in a trust deed as the person for whose benefit a trust deed is given, or the person's successor in interest. See Arizona Laws 33-801
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Trustee: A person or institution holding and administering property in trust.
- Trustee: means an individual, association or corporation qualified pursuant to section 33-803, or the successor in interest thereto, to whom trust property is conveyed by trust deed. See Arizona Laws 33-801
B. An attorney for the beneficiary shall also be qualified to act as attorney for the trustee or to be the trustee.