A trustee cannot enforce any claim against the trust property which he purchases after or in contemplation of his appointment as trustee; but he may be allowed by any competent court to charge to the trust property what he has in good faith paid for the claim, upon discharging the same. Source: SDC 1939, § 59.0208.
Purchase by trustee of claims against trust property
SDCL § 55-3-12 — under EXPRESS TRUSTS FOR THIRD-PARTY BENEFICIARIES.
SDCL § 55-3-12