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2018 New Jersey Revised Statutes
Title 3B - ADMINISTRATION OF ESTATES--DECEDENTS AND OTHERS
Chapter 31 - Uniform Trust Code
Section 3b:31-53 - Reimbursement of expenses.
Universal Citation:
NJ Rev Stat § 3b:31-53 (2018)
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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.
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