N.Y. Estates, Powers and Trusts Law 7-3.2 – Bona fide purchasers and creditors protected
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§ 7-3.2 Bona fide purchasers and creditors protected
Terms Used In N.Y. Estates, Powers and Trusts Law 7-3.2
- Trustee: A person or institution holding and administering property in trust.
An express trust not declared in the disposition to the trustee or an implied 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 his apparent ownership of the trust property.