3B:14-35 - Liability of fiduciary for improper exercise of power concerning estate
3B:14-35. Liability of fiduciary for improper exercise of power concerning estate
If the exercise of power concerning the estate is improper, the fiduciary is liable to interested persons for damage or loss resulting from breach of his fiduciary duty to the same extent as a trustee of an express trust. The rights of purchasers and others dealing with a fiduciary shall be determined as provided in N.J.S. 3B:14-28 and N.J.S. 3B:14-29.
L.1981, c. 405, s. 3B:14-35, eff. May 1, 1982.
Â
If the exercise of power concerning the estate is improper, the fiduciary is liable to interested persons for damage or loss resulting from breach of his fiduciary duty to the same extent as a trustee of an express trust. The rights of purchasers and others dealing with a fiduciary shall be determined as provided in N.J.S. 3B:14-28 and N.J.S. 3B:14-29.
L.1981, c. 405, s. 3B:14-35, eff. May 1, 1982.
Â