Substituted property; equivalent value; fiduciary duty.

Del. Code tit. 12, § 3316
in effect
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Except as otherwise expressly provided by the terms of a governing instrument, if a trustor has a power to substitute property of equivalent value, the fiduciary responsible for investment decisions has a fiduciary duty to determine that the substituted property is of equivalent value prior to allowing the substitution.
Source: DE Code (Official Site)URL: https://delcode.delaware.gov/title12/c033/index.htmlFetched: 10/4/2026

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