liability for receipt

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Liability for the receipt of trust property in breach of trust. The extent to which the recipient will be liable will depend upon the state of his knowledge at the time of receipt. Unless the recipient is a bona fide purchaser for value without notice or a volunteer with no notice of the trust (actual or constructive), then he will incur a personal liability to the trust. See also accessory liability in breach of trust; knowing receipt.

Subjects: Law.

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