New Mexico § 46A-7-709 Reimbursement of expenses

New Mexico Statutes

§ 46A-7-709 — Reimbursement of expenses

New Mexico § 46A-7-709

Ch. 46AUniform Trust Code

Art. 7Office of Trustee

This text of New Mexico § 46A-7-709 (Reimbursement of expenses) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 46A-7-709 (2026).

Text

A. A trustee is entitled to be reimbursed out of the trust property, with interest as appropriate, for:

(1)expenses that were properly incurred in the administration of the trust; and (2) to the extent necessary to prevent unjust enrichment of the trust, expenses that were not properly incurred in the administration of the trust. B. An advance by the trustee of money for the protection of the trust gives rise to a lien against trust property to secure reimbursement with reasonable interest.

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A. A trustee is entitled to be reimbursed out of the trust property, with interest as appropriate, for: (1) expenses that were properly incurred in the administration of the trust; and (2) to the extent necessary to prevent unjust enrichment of the trust, expenses that were not properly incurred in the administration of the trust. B. An advance by the trustee of money for the protection of the trust gives rise to a lien against trust property to secure reimbursement with reasonable interest.