ST. GAUDENS v. SOUTHEAST BANK, N.A.

No. 89-2334.

559 So.2d 1259 (1990)

Margaret ST. GAUDENS, Appellant, v. SOUTHEAST BANK, N.A., f/k/a First National Bank of Miami, a/k/a Southeast Bank Trust Company, N.A., Appellee.

District Court of Appeal of Florida, Third District.

Rehearing Denied May 22, 1990.


Attorney(s) appearing for the Case

Arnstein & Lehr and Bernard A. Motola, West Palm Beach, for appellant.

Steel Hector & Davis and W. Peter Burns and Cecilia F. Renn, Miami, for appellee.

Before BASKIN, FERGUSON and GERSTEN, JJ.


FERGUSON, Judge.

The main question presented is whether a co-trustee/bank, which relinquishes trust property to the agent of the co-trustee/beneficiary on the strength of a familial relationship and prior course of dealings between the agent and trustee/beneficiary, may still be liable for the agent's conversion of the trust property where it is not discovered until after the loss that the agent had actual authority to manage the trust property by virtue of a recorded...

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