Full question:
What legal form does one need regarding a claim for Rightful Ownership? The Trustee in our case wrongly transfered Real Estate to 2 of 6 heirs without discussing with or provisions for all 6 heirs, Need to take action for a reversal and or Rightful Ownership.
- Category: Fiduciary Duty
- Date:
- State: Nebraska
Answer:
I am prohibited from giving legal advice, such as recommending a particular form. A trustee is a fiduciary and subject to a higher degree of duty that obligates the fiduciary to act in a diligent and faithful manner to further the beneficiary's best interests. A fiduciary is held to rigorous duties of loyalty and care and must conduct himself or herself with the utmost good faith and integrity. When a trustee acts against the terms of the trust to the harm of the beneficiaries, the most common claim is a breach of fiduciary duty. However, there may be
other claims, such as fraud, which will depend on all the facts and circumstances involved. I suggest contacting a local attorney who can review all the facts and documents in the matter.
Some trust documents say the trustee will be liable only for willful
misconduct or gross negligence. But, state law is more strict, and the
court can remove a trustee for certain reasons, such as the following:
* Breach of trust;
* Trustee has more debts than assets or otherwise unfit to act as
trustee;
* The trust cannot be administered because of hostility or lack of
cooperation between co-trustees;
* The trustee does not want to be the trustee;
* The trustee's payment is excessive;
* The law says some people must be disqualified from serving as a
sole trustee.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.
