New Mexico Statutes
§ 46A-4-412 — Modification or termination because of unanticipated
circumstances or inability to administer trust effectively.
A.The court may modify the administrative or dispositive terms of a trust or terminate the trust if it is established by clear and convincing evidence that there are circumstances not anticipated by the settlor and modification or termination will further the purposes of the trust. To the extent practicable, the modification must be made in accordance with the settlor's probable intention.
B.The court may modify the administrative terms of a trust if continuation of the trust on its existing terms would be impracticable or wasteful or impair the trust's administration.
C.Upon termination of a trust under this section, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust.
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New Mexico § 46A-4-412 (Modification or termination because of unanticipated) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Laws 2003, ch. 122, § 4-412; 2007, ch. 128, § 11.
Nearby Sections
15
§ 46A-1-101
Short title§ 46A-1-102
Scope§ 46A-1-103
Definitions§ 46A-1-104
Knowledge§ 46A-1-105
Default and mandatory rules§ 46A-1-106
Common law of trusts; principles of equity§ 46A-1-107
Governing law§ 46A-1-108
Principal place of administration§ 46A-1-109
Methods and waiver of notice§ 46A-1-110
Others treated as qualified beneficiaries§ 46A-1-111
Nonjudicial settlement agreements§ 46A-1-112
Rules of construction§ 46A-1-113
Insurable interest of trustee§ 46A-10-1001
Breach of trust§ 46A-10-1002
Damages for breach of trust