A trustee is not liable to a beneficiary for breach of trust if the beneficiary consented to the conduct constituting the breach, released the trustee from liability for the breach or ratified the transaction constituting the breach, unless:
A. the consent, release or ratification of the beneficiary was induced by improper conduct of the trustee; or
B. at the time of the consent, release or ratification, the beneficiary did not know of the beneficiary's rights or of the material facts relating to the breach.
History: Laws 2003, ch. 122, § 10-1008; recompiled as § 46A-10-1009 by Laws 2007, ch. 128, § 30.
Recompilation. — Laws 2007, ch. 128, § 30 recompiled former 46A-10-1008 NMSA 1978, as enacted by Laws 2003, ch. 122, § 10-1008, as 46A-10-1009 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 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.