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N.J. Stat. Ann. § 3B:31-73

Damages in absence of breach

Known as the Uniform Trust Code

The act spans §§ 3B:31-1 to 3B:31-9 (84 sections).

L.2015, c.276, s.1.

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.

Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.