A trustee can never be a purchaser.

Explanation

(English-origin maxim.) A trustee is absolutely prohibited from purchasing the trust property — the fiduciary duty to the beneficiary is incompatible with the self-interest of a buyer.

Where this applies

• An executor managing an estate trust tries to buy the estate's house at a discount for himself, and the court blocks the sale because a trustee cannot be a purchaser of trust property.
• A guardian appointed to manage a child's inheritance attempts to buy the child's land, and the transaction is voided because the guardian's fiduciary duty conflicts with his interest as buyer.
• A bank trustee managing a trust fund tries to purchase bonds from the trust at below market value, and the court holds the purchase void.