Massachusetts General Laws ch. 203E sec. 709 – Reimbursement of expenses
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Section 709. Reimbursement of expenses
Terms Used In Massachusetts General Laws ch. 203E sec. 709
- Lien: A claim against real or personal property in satisfaction of a debt.
- Trustee: A person or institution holding and administering property in trust.
(a) A trustee shall be 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 shall give rise to a lien against trust property to secure reimbursement with reasonable interest.
ARTICLE 8 DUTIES AND POWERS OF TRUSTEE