3B:31-53 Reimbursement of expenses.
3B:31-53. Reimbursement of Expenses.
a.In addition to the compensation allowed by N.J.S.3B:18-2 et seq., a trustee is entitled to be reimbursed out of the trust property 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 a trustee of money or other property for the protection of the trust gives rise to a lien against trust property to secure reimbursement.
L.2015, c.276, s.1.
Section: Previous 3b-31-46 3b-31-47 3b-31-48 3b-31-49 3b-31-50 3b-31-51 3b-31-52 3b-31-53 3b-31-54 3b-31-55 3b-31-56 3b-31-57 3b-31-58 3b-31-59 3b-31-60 Next
Last modified: October 11, 2016