Are you the beneficiary of a trust that holds property that is the subject of a lawsuit? Are you concerned that you may need to bring a counterclaim against the person suing you? Did you know that yourtrustee has an obligation to initiate suit on your behalf? Take a look at what a trustee had to do in a recent case out of the Fourth District Court of Appeal.
Trustees
- A trustee holds legal title to property held in trust while the beneficiary holds equitable title.
- Who has the duty to sue for the Palm Beach trust?
- A trustee also has a fiduciary duty to the beneficiary to act prudently and loyally.
- The beneficiary owes no such fiduciary duty.
- Are you the beneficiary of real estate that is held in trust?
- When a lawsuit is initiated against you, which person has the duty to defend?
- The trustee has a fiduciary duty to act for the beneficiary in a way similar to how he would act if the property was wholly his own.
- What happens when a Delray Beach trustee fails to take that action?
- Experienced Palm Beach probate litigators know this may be a case for breach of fiduciary duty against the trustee.
- Take a look at what some rather litigious trustees were able to do in the Fourth District Court of Appeal case of Vista St. Lucie Association, Inc., v. Dellatore et. Al.
Vista St. Lucie Association, Inc., v. Dellatore et. Al.
- A condominium was held in trust and the condo association initiated a suit when the trustee failed to reimburse the association for mold remediation performed.
- The trustees got fed up with the association and what they viewed as a frivolous lawsuit so they initiated a counter suit.
- Do you know what a counter suit is?
- The trustees sued the association back!
- Want to learn even more about what a trustee has to do as far as defending and initiating lawsuits?
Check out the entire case by clicking here to learn more.