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2020 New Jersey Revised Statutes
Title 3B - Administration of Estates--Decedents and Others
Section 3B:31-73 - Damages in absence of breach.
Universal Citation: NJ Rev Stat § 3B:31-73 (2020)
3B:31-73 Damages in absence of breach.
3B:31-73. Damages in Absence of Breach.
a. A trustee is accountable to an affected beneficiary for any profit made by the trustee arising from the administration of the trust, even absent a breach of trust, except where the interest in the transaction involved is fully disclosed to the beneficiary and consent is freely given.
b. Absent a breach of trust, a trustee is not liable to a beneficiary for a loss or depreciation in the value of trust property or for not having made a profit.
L.2015, c.276, s.1.
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