Also known as: owning or controlling · ownership and control · control or ownership
Written by attorneys · grounded in primary & secondary sources — see below
A relationship to property by which a person holds title or exercises authority over it.
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Otis Olsen serves as trustee of a trust owning a factory. The factory violates environmental regulations. Because Otis was not personally at fault in the violation, he faces no personal liability for the obligation arising from his ownership or control of the trust property.
A third party asserts a claim against trustee Olivia Owens for an obligation arising from ownership or control of trust property. The claim proceeds against Olivia in her fiduciary capacity even though she bears no personal fault.
Oasis Energy holds a license to cross land solely to service gas meters it owns. When Oasis assigns only the access right to Peak Services without conveying the meters, the assignment fails because the license remains bound to the retained ownership or control of the chattel.
A trustee faces personal liability only when personally at fault. The rule limits exposure to situations where the trustee's own conduct creates the obligation arising from ownership or control.
Supporting sources
Yes. A claim based on an obligation arising from ownership or control of trust property may be asserted against the trustee in a fiduciary capacity regardless of personal fault.
Supporting sources
…to the level of optimum achievable . . . ." Some of these "optimum achievable" standards required are: disclosure of hospital ownership and control; a dietetic service and written dietetic policies; a written disaster plan for mass emergencies; a nuclear medical services program; facilities for hematology, chemistry, microbiology,…