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§ 14.5-709. Reimbursement of expenses of trustee

West's Annotated Code of MarylandEstates and TrustsEffective: January 1, 2015

West's Annotated Code of Maryland
Estates and Trusts (Refs & Annos)
Title 14.5. Maryland Trust Act (Refs & Annos)
Subtitle 7. Office of Trustee (Refs & Annos)
Effective: January 1, 2015
MD Code, Estates and Trusts, § 14.5-709
§ 14.5-709. Reimbursement of expenses of trustee
In general
(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) To the extent necessary to prevent unjust enrichment of the trust, expenses that were not properly incurred in the administration of the trust.
Advances by trustee
(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.

Credits

Added by Acts 2014, c. 585, § 1, eff. Jan. 1, 2015.
MD Code, Estates and Trusts, § 14.5-709, MD EST & TRST § 14.5-709
Current through legislation effective July 1, 2020, from the 2020 Regular Session of the General Assembly.
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