New Mexico Statutes
Article 7 - Office of Trustee
Section 46A-7-709 - Reimbursement of expenses.

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.
History: Laws 2003, ch. 122, § 7-709.
Effective dates. — Laws 2003, ch. 122, § 11-1106 made the act effective July 1, 2003.

Structure New Mexico Statutes