N.Y. Estates, Powers & Trusts Law § 7-3.3: Person paying money to the trustee protected

§ 7-3.3 Person paying money to the trustee protected

A person who in good faith transfers money or property to a trustee is

not responsible for the proper application of such money or property;

and any right or title derived by him from the trustee in consideration

of such transfer is not affected by the trustee's misapplication of such

money or property.