Iowa Code 633.158 – Liability for property not a part of estate
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Every fiduciary shall be chargeable in the fiduciary‘s accounts with property not a part of the estate that comes into the fiduciary’s hands at any time, and shall be liable to the persons entitled to the property, if either of the following applies:
1. The property was received under a duty imposed upon the fiduciary by law in the capacity of fiduciary.
Terms Used In Iowa Code 633.158
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Estate: means the real and personal property of either a decedent or a ward, and may also refer to the real and personal property of a trust described in section 633. See Iowa Code 633.3
- Fiduciary: A trustee, executor, or administrator.
- Fiduciary: includes personal representative, executor, administrator, guardian, conservator, and the trustee of any trust described in section 633. See Iowa Code 633.3
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Property: includes both real and personal property. See Iowa Code 633.3
2. The fiduciary has commingled the property with the assets of the estate.