N.J.S.A. 3B:31-53 — Reimbursement of expenses.

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 is the verbatim text of N.J.S.A. 3B:31-53, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.