Del. Code tit. 12 § 3544

Current through 2024 Legislative Session Act Chapter 531
Section 3544 - Successor trustee [for application of this section, see 79 del. laws, c. 352, section 6]

Unless provided otherwise by the terms of the governing instrument or by order of court, in the absence of actual knowledge of a breach of trust, or information concerning a possible breach of trust that would cause a reasonable person to inquire, a successor trustee appointed in accordance with the terms of the governing instrument, by the court, or by nonjudicial settlement agreement, is under no duty to examine the accounts and records of a predecessor trustee, is under no duty to inquire into or confirm the validity of a governing instrument or actions by a predecessor trustee altering or modifying a governing instrument or to inquire into the acts or omissions of its predecessor, is not liable for any failure to seek redress for any act or omission of any predecessor trustee, shall have responsibility only for property which is actually delivered to it by its predecessor, and shall have all of the powers and discretions conferred in the governing instrument upon the original trustee.

12 Del. C. § 3544

Amended by Laws 2019, ch. 52,s 2, eff. 6/19/2019.
Amended by Laws 2013, ch. 352,s 4, eff. 8/1/2014.
65 Del. Laws, c. 422, §7; 66 Del. Laws, c. 376, §1.;