7-3.2 - Bona Fide Purchasers and Creditors Protected

NY Est Pow & Trusts L § 7-3.2 (2019) (N/A)
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An express trust not declared in the disposition to the trustee or an implied or resulting trust does not defeat the title of a purchaser from the trustee for value and without notice of the trust, or the rights of a creditor who extended credit to the trustee in reliance upon his apparent ownership of the trust property.