§ 46A-10-1001 Breach of trust
§ 46A-10-1002 Damages for breach of trust
§ 46A-10-1003 Damages in absence of breach
§ 46A-10-1004 Attorney fees and costs
§ 46A-10-1005 Limitation of action against trustee
§ 46A-10-1006 Reliance on trust instrument
§ 46A-10-1007 Event affecting administration or distribution
§ 46A-10-1008 Exculpation of trustee
§ 46A-10-1009 Beneficiary’s consent, release or ratification
§ 46A-10-1010 Limitation on personal liability of trustee
§ 46A-10-1011 Interest as general partner
§ 46A-10-1012 Protection of person dealing with trustee
§ 46A-10-1013 Certification of trust
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Terms Used In New Mexico Statutes > Chapter 46A > Article 10 - Liability of Trustees and Rights of Persons Dealing With Trustees

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Fiduciary: A trustee, executor, or administrator.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Trustee: A person or institution holding and administering property in trust.