633A.4506 Beneficiary’s consent, release, or affirmance — nonliability of trustee. 1. A beneficiary shall not hold a trustee liable for a breach of trust if the beneficiary does any of the following: a. Consents to the conduct constituting the breach.b. Releases the trustee from liability for the breach.c. Affirms the transaction constituting the breach.2. A beneficiary may hold a trustee liable for breach of trust despite a consent, release, or affirmance by the beneficiary if, at the time of the consent, release, or affirmance, all of thefollowing applied: a. The beneficiary did not know of the beneficiary’s rights.b. The beneficiary did not know the material facts known to the trustee or which the trustee should have known. c. The trustee did not reasonably believe that the beneficiary knew the beneficiary’s rights and that the beneficiary knew material facts known to the trustee or which the trustee shouldhave known. 3. A beneficiary may hold a trustee liable for breach of a trust despite a consent, release, or affirmance by the beneficiary if the consent, release, or affirmance was induced by improperconduct of the trustee. iary may hold a trustee liable for breach of a trust despite a consent, release, or affirmance by the beneficiary if the consent, release, or affirmance was induced by improperconduct of the trustee. 99 Acts, ch 125, §78, 109C2001, §633.45062002 Acts, ch 1107, §17, 18; 2003 Acts, ch 95, §17; 2005 Acts, ch 38, §54CS2005, §633A.4506Referred to in §633A.4202 Sat Dec 23 12:13:38 2023 Iowa Code 2024, Section 633A.4506 (18, 0)
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