mortgage. Accountability A fiduciary will be liable to account if proven to have acquired a profit, benefit or gain from the relationship by one of three means: In circumstances of conflict of duty and interest; In circumstances of conflict of duty to one person and duty to another person; By taking advantage of the fiduciary position. Therefore, it is said the fiduciary has a duty not to be in a situation where personal interests and fiduciary duty conflict, a duty not to be in a situation where his fiduciary duty conflicts with another fiduciary duty, and not to profit from his fiduciary position without express knowledge and consent. A fiduciary cannot have a conflict of interest. The state of Texas in the United States sets out the duties of a fiduciary in its Estates Code, chapter 751, as follows (the bracketed references to TPC refer to the Texas Probate Code superseded by the Estates Code, effective January 1, 2014): Sec. 751.101. Fiduciary Duties. [TPC §489B(a)] An attorney in fact or agent is a fiduciary and has a duty to inform and to account for actions taken under the power of attorney. Sec. 751.102. Duty to Timely Inform Principal. [TPC §489B(b)] (a) The attorney in fact or agent shall timely inform the principal of each action taken under the power of attorney. (b) Failure of an attorney in fact or agent to timely inform, as to third parties, does not invalidate any action of the attorney in fact or agent. Sec. 751.103. Maintenance of Records. [TPC §489B(c), (f)] (a) The attorney in fact or agent shall maintain records of each action taken or decision made by the attorney in fact or agent. (b) The attorney in fact or agent shall maintain all records until delivered to the principal, released by the principal, or discharged by a court. Sec. 751.104. Accounting. [TPC §489B(d), (e)] (a) The principal may demand an accounting by the attorney in fact or agent. (b) Unless otherwise directed by the principal, an accounting under Subsection (a) must include: (1) the property belonging to the principal that has come to the attorney in fact’s or agent’s knowledge or into the attorney in fact’s or agent’s possession; (2) each action taken or decision made by the attorney in fact or agent; (3) a complete account of receipts, disbursements, and other actions of the attorney in fact or agent that includes