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The beneficiary has a right to
inspect and take copies of the instrument ofthe trust, the documents of title
relating solely to the trust property,the accounts of the trust property and the
vouchers if any by which theyare supported and as well the cases submitted and
opinions taken by thetrustee from the court for his guidance in the discharge
of his duty.
PROTECTION OF TRUST AND TRUST PROPERTY
Where
a trustee has wrongfully bought trust property the beneficiary has aright to have
the property retransferred by the trustee or to have suchproperty declared subject
to the conditions and safeguards of theinstrument of trust.
Where
a third person acquires the trust property inconsistently with the trust, the
beneficiary can file a suit to seek declaration that the property belongs to the
trust. But such a declaration cannot be obtained if the third party has obtained
the property in good faith by making due payment and without having notice of
the trust
However, in such cases, the beneficiary can claim the
money obtained by thetrustee on selling the trust property from the trustee or
his legalrepresentatives.
LIABILITY OF BENEFICIARY
If one of several beneficiaries facilitates or partakes in the breach oftrust
committed by the trustee or deceives a trustee and induces him tocommit a breach
of trust or fails to take proper steps to protect interestsof other beneficiaries
after he becomes aware of the intended or committedbreach of trust, he is liable
to such all other beneficiaries. These otherbeneficiaries can impound all the
beneficial interest of such liablebeneficiary until the loss caused by breach
of trust is compensated.
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only. The information presented at this site should not be construed to be formal
legal advice nor the formation of a lawyer/client relationship. Persons accessing
this site are encouraged to seek independent counsel for advice regarding their
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