A person who in good faith transfers money or property to a trustee is
not responsible for the proper application of such money or property;
and any right or title derived by him from the trustee in consideration
of such transfer is not affected by the trustee's misapplication of such
money or property.
Structure New York Laws
EPT - Estates, Powers and Trusts
Part 3 - Rights of Purchasers, Creditors and Other Persons
7-3.1 - Disposition in Trust for Creator Void as Against Creditors
7-3.2 - Bona Fide Purchasers and Creditors Protected
7-3.3 - Person Paying Money to the Trustee Protected
7-3.4 - Excess Income From Trust Property Subject to Creditors' Claims
7-3.5 - Rights of Creditors to Obtain Information Concerning Beneficiaries