Arizona Laws 33-820. Trustee’s right to rely; attorney’s right to act for trustee and beneficiary
Current as of: 2023 | Check for updates
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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: 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
- 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
- Deed: The legal instrument used to transfer title in real property from one person to another.
- 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
- Trustee: A person or institution holding and administering property in trust.
B. An attorney for the beneficiary shall also be qualified to act as attorney for the trustee or to be the trustee.