Minnesota Statutes 507.48 – Bona Fide Purchasers Protected
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An express trust not declared in the disposition to the trustee or a constructive or resulting trust does not defeat the title of a purchaser from the trustee for value and without notice of the trust, or the rights of a creditor who extended credit to the trustee in reliance upon the trustee’s apparent ownership of the trust property.
Terms Used In Minnesota Statutes 507.48
- purchaser: as used in this chapter , embraces every person to whom any estate or interest in real estate is conveyed for a valuable consideration and every assignee of a mortgage, lease, or other conditional estate. See Minnesota Statutes 507.01
- Trustee: A person or institution holding and administering property in trust.