Section 1012. Protection of person dealing with trustee
(a) A person other than a beneficiary who in good faith assists a trustee or who in good faith and for value deals with a trustee, without knowledge that the trustee is exceeding or improperly exercising the trustee's powers shall be protected from liability as if the trustee properly exercised the power.
(b) A person other than a beneficiary who in good faith deals with a trustee shall not be required to inquire into the extent of the trustee's powers or the propriety of their exercise.
(c) A person who in good faith delivers assets to a trustee need not ensure their proper application.
(d) A person other than a beneficiary who in good faith assists a former trustee or who in good faith and for value deals with a former trustee, without knowledge that the trusteeship has terminated shall be protected from liability as if the former trustee were still a trustee.
(e) Comparable protective provisions of other laws relating to commercial transactions or transfer of securities by fiduciaries shall prevail over the protection provided by this section.
Structure Massachusetts General Laws
Part II - Real and Personal Property and Domestic Relations
Chapter 203e - Massachusetts Uniform Trust Code
Article 10 - Liability of Trustees and Rights of Persons Dealing With Trustee
Section 1001 - Remedies for Breach of Trust
Section 1005 - Limitation of Action Against Trustee
Section 1006 - Reliance on Trust Instrument
Section 1007 - Event Affecting Administration or Distribution
Section 1008 - Exculpation of Trustee
Section 1009 - Beneficiary's Consent, Release or Ratification
Section 1010 - Limitation on Personal Liability of Trustee
Section 1011 - Interest as General Partner