Dealing with a trustee: what you don't have to check

Any grantee, mortgagee, lessee, transferee, assignee, or person obtaining satisfaction, releases, or otherwise in any way dealing with the trustee with respect to the real property held in trust under the recorded instrument, may but shall not be obligated to inquire into the identification or status of any named or unnamed beneficiaries, or their heirs or assigns to whom a trustee may be accountable under the terms of the recorded instrument, or under any unrecorded separate declarations or agreements collateral to the recorded instrument whether referred to in the recorded instrument or not, nor to inquire into or ascertain the authority of such trustee to act within and exercise the powers granted under the recorded instrument, nor to inquire into the adequacy or disposition of any consideration, if any is paid or delivered to the trustee in connection with any interest so acquired from the trustee, nor to inquire into any of the provisions of any of the unrecorded declarations or agreements.