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Tenn. Code Ann. § 35-15-709

Reimbursement of expenses

Known as the Tennessee Uniform Trust Code

The act spans §§ 35-15-1001 to 35-15-901 (113 sections).

Acts 2004, ch. 537, § 59; 2013, ch. 390, § 28.

(1) A trustee, trust advisor or trust protector is entitled to be reimbursed out of the trust property, with interest as appropriate, for: 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.

(3) An advance, either by the trustee, trust advisor or trust protector or by a person named in § 35-15-701(c)(1), of money for the protection of the trust gives rise to a lien against trust property to secure reimbursement with reasonable interest.

Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.