{"data":{"id":"us-ia/iowa-code-633a.4603","jurisdiction":"us-ia","citation":"Iowa Code § 633A.4603","heading":"Obligations of third parties.","body":"1. With respect to a third party dealing with a trustee or assisting a trustee in the conduct of a transaction, if the third party acts in good faith and for a valuable consideration and without knowledge that the trustee is exceeding the trustee’s powers or is improperly exercising them, the following apply:\na. A third party is not bound to inquire as to whether a trustee has power to act or is properly exercising a power and may assume without inquiry the existence of a trust power and its proper exercise.\nb. A third party is fully protected in dealing with or assisting a trustee, as if the trustee has and is properly exercising the power the trustee purports to exercise.\n2. A third party who acts in good faith is not bound to ensure the proper application of trust property paid or delivered to the trustee.\n3. If a third party acting in good faith and for a valuable consideration enters into a transaction with a former trustee without knowledge that the person is no longer a trustee, the third party is fully protected as if the former trustee were still a trustee.","path":["Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES (Ch. 595 - 686D)","Chapter 633A - IOWA TRUST CODE","Subchapter IV - TRUST ADMINISTRATION","Part 6 - RIGHTS OF THIRD PARTIES"],"source_url":"https://www.legis.iowa.gov/docs/code/2026/633A.4603.pdf","current_through":"Iowa Code 2026 edition","vintage":"","retrieved_at":"2026-09-14T19:40:16Z","sha256":"3f92d8245f51843c6553dc0601f689ab70ecc843906c856489f75e153918b2a9","source_id":"us-ia","stale":false,"prev":"us-ia/iowa-code-633a.4602","next":"us-ia/iowa-code-633a.4604"},"notice":"GroundRules: Original legal text. Not legal advice."}