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Minn. Stat. § 501C.0709

REIMBURSEMENT OF EXPENSES.

Known as the Minnesota Trust Code

The act spans §§ 501C.0101–501C.1304 (98 sections).

Applied in 1 court decision — leading case Lund v. Lund (2019)

Most recently applied in Lund v. Lund (January 2019)

2015 c 5 art 7 s 9

(a) A trustee is entitled to be reimbursed out of the trust property, with interest as appropriate, for:

(1) expenses that were properly incurred in the administration of the trust; and

(2) expenses that were not properly incurred in the administration of the trust, to the extent necessary to prevent unjust enrichment of the trust.

(b) An advance by the trustee of money for the protection of the trust gives rise to a lien against trust property to secure reimbursement with reasonable interest.

Official source: Minnesota Office of the Revisor of Statutes. Reproduced from public-domain Minnesota statutes; confirm against the official source for the current text. Not legal advice.