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Code of Virginia (Last Updated:July 28, 2020) |
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TITLE 64.2. Wills, Trusts, and Fiduciaries |
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SUBTITLE III. Trusts |
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CHAPTER 7. Uniform Trust Code |
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ARTICLE 10. Liability of Trustees and Rights of Persons Dealing With Trustee |
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SECTION 64.2-800. Beneficiary's consent, release, or ratification |
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A trustee is not liable to a beneficiary for breach of trust if the beneficiary consented to the conduct constituting the breach, released the trustee from liability for the breach, or ratified the transaction constituting the breach, unless: 1. The consent, release, or ratification of the beneficiary was induced by improper conduct of the trustee; or 2. At the time of the consent, release, or ratification, the beneficiary did not know of the beneficiary's rights or of the material facts relating to the breach. |