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KembaraXtra – Legal Terms – Knowing Receipt
Knowing receipt is a principle in equity where a person who receives trust property, knowing that it has been transferred in breach of trust, may be held liable.
Such a person must account to the beneficiaries for the property or its value. Liability arises not merely from receipt but from knowledge of the improper transfer. This doctrine helps protect trust assets and ensures that third parties cannot benefit from breaches of trust.
Knowing receipt is a principle in equity where a person who receives trust property, knowing that it has been transferred in breach of trust, may be held liable.
Such a person must account to the beneficiaries for the property or its value. Liability arises not merely from receipt but from knowledge of the improper transfer. This doctrine helps protect trust assets and ensures that third parties cannot benefit from breaches of trust.
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