following trust fund or property

Pursuing property wrongfully converted by a fiduciary for the purpose of compelling restitution to the beneficiary, such pursuit encompassing a following through all changes in state and form, so long as such property, its product, or its proceeds are capable of identification and so long as the property has not passed into the hands of a bona fide purchaser for value. 54 Am J1st Trusts § 248. A practice in favor of a surety on the bond of a trustee who has diverted funds. 50 Am J1st Subro § 132. Tracing specific funds in the hands of a trustee in insolvency or assignee for the benefit of creditors and enforcing the trust therein. 6 Am J2d Assign for Crs § 116. Identifying or tracing trust funds for the purpose of reclaiming them from an insolvent trust company or bank. 10 Am J2d Bks § 805.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

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  • following fund — See following trust fund or property …   Ballentine's law dictionary

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