A trustee who acts in reasonable reliance on the terms of the trust as expressed in the trust instrument is not liable to a beneficiary for a breach of trust to the extent the breach resulted from the reliance.
History: Laws 2003, ch. 122, § 10-1005; recompiled as § 46A-10-1006 by Laws 2007, ch. 128, § 30.
Recompilation. — Laws 2007, ch. 128, § 30 recompiled former 46A-10-1005 NMSA 1978, as enacted by Laws 2003, ch. 122, § 10-1005, as 46A-10-1006 NMSA 1978, effective July 1, 2007.
Law reviews. — For article, "The New Mexico Uniform Trust Code," see 34 N.M.L. Rev. 1 (2004).
Structure 2021 New Mexico Statutes
Chapter 46A - Uniform Trust Code
Article 10 - Liability of Trustees and Rights of Persons Dealing with Trustees
Section 46A-10-1001 - Breach of trust.
Section 46A-10-1002 - Damages for breach of trust.
Section 46A-10-1003 - Damages in absence of breach.
Section 46A-10-1004 - Attorney fees and costs.
Section 46A-10-1005 - Limitation of action against trustee.
Section 46A-10-1006 - Reliance on trust instrument.
Section 46A-10-1007 - Event affecting administration or distribution.
Section 46A-10-1008 - Exculpation of trustee.
Section 46A-10-1009 - Beneficiary's consent, release or ratification.
Section 46A-10-1010 - Limitation on personal liability of trustee.
Section 46A-10-1011 - Interest as general partner.
Section 46A-10-1012 - Protection of person dealing with trustee.