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2016 New York Laws
EPT - Estates, Powers & Trusts
Article 7 - TRUSTS
Part 3 - (7-3.1 - 7-3.5) RIGHTS OF PURCHASERS, CREDITORS AND OTHER PERSONS
7-3.3 - Person paying money to the trustee protected

NY Est Pow & Trusts L § 7-3.3 (2016) What's This?
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.

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