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New Jersey Statutes, Title: 3B, ADMINISTRATION OF ESTATES--DECEDENTS AND OTHERS

    Chapter 31: Uniform Trust Code

      Section: 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.

This section added to the Rutgers Database: 2016-02-15 11:38:48.






Older versions of 3b:31-53 (if available):



Court decisions that cite this statute: CLICK HERE.


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