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Code · Michigan · Chapter 700 — Estates and Protected Individuals Code

700.7909 Beneficiary's consent, release, or ratification of transaction.

114 words·~1 min read·/mi/chapter-700/700-7909

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700.7909 Beneficiary's consent, release, or ratification of transaction.
Sec. 7909.
A trustee is not liable to a trust beneficiary for breach of trust if the trust beneficiary consented to the conduct constituting the breach, released the trustee from liability for the breach, or ratified the transaction constituting the breach, unless either of the following applies:
(a)The consent, release, or ratification of the trust beneficiary was induced by improper conduct of the trustee.
(b)At the time of the consent, release, or ratification, the trust beneficiary did not know of 1 or more of the material facts relating to the breach.
History: Add. 2009, Act 46 , Eff. Apr. 1, 2010
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