A trustee or other person that reasonably relies on the validity of a distribution of part or all of the property of a trust to another trust, or a modification of a trust under the Uniform Trust Decanting Act, New Mexico law other than the Uniform Trust Decanting Act or the law of another jurisdiction, is not liable to any person for any action or failure to act as a result of the reliance.
§ 46-12-106 NMSA 1978
Reasonable reliance
Known as the Uniform Trust Decanting Act
The act spans §§ 46–46 (29 sections).
Laws 2016, ch. 72, § 1 -106.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.