44D-10-1001 Remedies for breach of trust
44D-10-1002 Damages for breach of trust
44D-10-1003 Damages in absence of breach
44D-10-1004 Attorney’s fees and costs
44D-10-1005 Limitation of action against trustee
44D-10-1006 Reliance on trust instrument
44D-10-1007 Event affecting administration or distribution
44D-10-1008 Exculpation of trustee
44D-10-1009 Beneficiary’s consent, release or ratification
44D-10-1010 Limitation on personal liability of trustee
44D-10-1011 Interest as general partner
44D-10-1012 Protection of person dealing with trustee
44D-10-1013 Certification of trust
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Terms Used In West Virginia Code > Chapter 44D > Article 10 - Liability of Trustees and Rights of Persons Dealing With Trustee

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • 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
  • Contract: A legal written agreement that becomes binding when signed.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Fiduciary: A trustee, executor, or administrator.
  • Grantor: The person who establishes a trust and places property into it.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
  • State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Trustee: A person or institution holding and administering property in trust.