reglab/housing_qa huggingface dataset:
NJ Rev Stat § 3B:31-40 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-40 - Overdue distribution.

3B:31-40 Overdue distribution.  3B:31-40. Overdue Distribution.  a. For the purposes of this section, "mandatory distribution" means a distribution of income or principal that the trustee is required to make to a beneficiary under the terms of the trust, including a distribution upon termination of the trust. The term excludes a distribution subject to the exercise of the trustee's discretion, regardless of whether the terms of the trust (1) include a support or other standard to guide the trustee in making distribution decisions, or  (2) provide that the trustee "may" or "shall" make discretionary distributions, including distributions pursuant to a support or other standard. b. Except as otherwise provided in section 1 of P.L.1996, c.41 (C.3B:11-4.1), whether or not a trust contains a spendthrift provision, a creditor or assignee of a beneficiary may reach a mandatory distribution of income or principal, including a distribution upon termination of the trust, if the trustee has not made the distribution to the beneficiary within a reasonable time after the mandated distribution date.  L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-41 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-41 - Personal obligations of trustee.

3B:31-41 Personal obligations of trustee.  3B:31-41. Personal Obligations of Trustee. Trust property is not subject to personal obligations of the trustee, even if the trustee becomes insolvent.
NJ Rev Stat § 3B:31-42 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-42 - Capacity of settlor of revocable trust.

3B:31-42 Capacity of settlor of revocable trust.  3B:31-42. Capacity of Settlor of Revocable Trust.  The capacity required to create, amend, revoke, or add property to a revocable trust, or to direct the actions of the trustee of a revocable trust, is the same as that required to make a will. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-43 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-43 - Revocation or amendment of revocable trust.

3B:31-43 Revocation or amendment of revocable trust.  3B:31-43. Revocation or Amendment of Revocable Trust. a. Unless the terms of a trust expressly provide that the trust is irrevocable, or that it is proved by clear and convincing evidence that the settlor intended for it to be irrevocable, the settlor may revoke or amend the trust. This subsection does not apply to a trust created under an instrument executed before the effective date of this act. b. If a revocable trust is created or funded by more than one settlor: (1) to the extent the trust consists of community property, the trust may be revoked by either spouse or partner in a civil union acting alone but may be amended only by joint action of both spouses or partners; and (2) to the extent the trust consists of property other than community property, each settlor may revoke or amend the trust with regard to the portion of the trust property attributable to that settlor's contribution. c. The settlor may revoke or amend a revocable trust: (1) by substantial compliance with a method provided in the terms of the trust; or (2) if the terms of the trust do not provide a method or the method provided in the terms is not expressly made exclusive, by: (a) executing a later will or codicil that expressly refers to the trust or specifically devises property that would otherwise have passed according to the terms of the trust; or (b) any other writing manifesting clear and convincing evidence of the settlor's intent. d. Upon revocation of a revocable trust, the trustee shall deliver the trust property to the settlor as the settlor directs. e. A settlor's powers with respect to revocation, amendment, or distribution of trust property may be exercised by an agent under a power of attorney only to the extent expressly authorized by the terms of the trust and the power. f. A guardian of the property of the settlor may exercise a settlor's powers with respect to revocation, amendment, or distribution of trust property only with the approval of the court supervising the guardianship. g. A trustee who does not know that a trust has been revoked or amended is not liable to the settlor or settlor's successors in interest for distributions made and other actions taken on the assumption that the trust had not been amended or revoked. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-44 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-44 - Settlor's powers.

3B:31-44 Settlor's powers.  3B:31-44. Settlor's Powers. While a trust is revocable, rights of the beneficiaries are subject to the control of, and the duties of the trustee are owed exclusively to, the settlor. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-45 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-45 - Limitation on action contesting validity of revocable trust; distribution of trust property.

3B:31-45 Limitation on action contesting validity of revocable trust; distribution of trust property.  3B:31-45. Limitation on Action Contesting Validity of Revocable Trust; Distribution of Trust Property. a. A person may commence a judicial proceeding to contest the validity of a trust that was revocable at the settlor's death within the earlier of: (1) Three years after the settlor's death; or (2) Four months, in the case of a resident, or six months, in the case of a nonresident, after the trustee sent the person a copy of the trust instrument and a notice informing the person of the trust's existence, of the trustee's name and address, and of the time allowed for commencing a proceeding. b. Upon the death of the settlor of a trust that was revocable at the settlor's death, the trustee may proceed to distribute the trust property in accordance with the terms of the trust. The trustee is not subject to liability for doing so unless: (1) the trustee knows of a pending judicial proceeding contesting the validity of the trust; or (2) a potential contestant has notified the trustee in writing of a possible judicial proceeding to contest the validity of the trust and the trustee has received written notice of a judicial proceeding commenced within 90 days after the contestant sent the notification. c. A beneficiary of a trust that is determined to have been invalid is liable to return any distribution received. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-46 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-46 - Accepting or declining trusteeship.

3B:31-46 Accepting or declining trusteeship.  3B:31-46. Accepting or Declining Trusteeship. a. Except as otherwise provided in subsection c. of this section, a person designated as trustee accepts the trusteeship: (1) in the case of a testamentary trustee or substituted testamentary trustee, as provided in N.J.S.3B:11-2, and (2) in the case of any other trustee,  (a) by substantially complying with a method of acceptance provided in the terms of the trust; or (b) if the terms of the trust do not provide a method or the method provided in the terms is not expressly made exclusive, by accepting delivery of the trust property, exercising powers or performing duties as trustee, or otherwise indicating acceptance of the trusteeship. b. A person designated as trustee who has not yet accepted the trusteeship may renounce the trusteeship. A designated trustee who does not accept the trusteeship within a reasonable time after knowing of the designation is deemed to have renounced the trusteeship. c. A person designated as trustee, without accepting the trusteeship, may: (1) act to preserve the trust property if, within a reasonable time after acting, the person sends a renunciation of the trusteeship to the settlor or, if the settlor is dead or lacks capacity, to the qualified beneficiaries and to any designated successor trustee; and (2) inspect or investigate trust property to determine potential liability under environmental or other law or for any other purpose. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-47 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-47 - Trustee's bond.

3B:31-47 Trustee's bond.  3B:31-47. Trustee's Bond.  a. A trustee shall give bond to secure performance of the trustee's duties as prescribed by N.J.S.3B:15-1 et seq. if the court finds that a bond is needed to protect the interests of the beneficiaries or is required by the terms of the trust and the court has not dispensed with that requirement. b. Unless otherwise directed by the court, the cost of the bond is an expense of the trust.  L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-48 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-48 - Co-trustees.

3B:31-48 Co-trustees.  3B:31-48. Co-trustees. a. Co-trustees who are unable to reach a unanimous decision may act by majority decision. A dissenting trustee who joins in carrying out a decision of the majority but expresses his dissent in writing promptly to his co-trustees shall not be liable for the act of the majority.  b. If a vacancy occurs in a co-trusteeship, the remaining co-trustees shall act for the trust unless the trust instrument provides otherwise. c. A co-trustee shall participate in the performance of a trustee's function unless the co-trustee is unavailable to perform the function because of absence, illness, disqualification under other law, or other temporary incapacity or the co-trustee has properly delegated the performance of the function to another trustee. d. If a co-trustee is unavailable to perform duties because of absence, illness, disqualification under other law, other temporary incapacity, or a vacancy remains unfilled and prompt action is necessary to achieve the purposes of the trust or to avoid injury to the trust property, the remaining co-trustee or a majority of the remaining co-trustees shall act for the trust. e. A trustee may not delegate to a co-trustee the performance of a function the settlor reasonably expected the trustees to perform jointly. Unless a delegation was irrevocable, a trustee may revoke a delegation previously made. f. A trustee who does not join in an action of a co-trustee or co-trustees because of absence, illness, disqualification or other temporary incapacity shall not be liable for that action.  g. Notwithstanding subsection a. or f. of this section, every trustee shall exercise reasonable care to: (1) prevent a co-trustee from committing a breach of trust; and (2) compel a co-trustee to redress a breach of trust. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-49 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-49 - Vacancy in trusteeship; appointment of successor.

3B:31-49 Vacancy in trusteeship; appointment of successor.  3B:31-49. Vacancy in Trusteeship; Appointment of Successor. a. A vacancy in a trusteeship occurs if: (1) a person designated as trustee renounces the trusteeship; (2) a person designated as trustee cannot be identified or does not exist; (3) a trustee resigns or is discharged; (4) a trustee is disqualified or removed; (5) a trustee dies; or (6) a guardian or conservator is appointed for an individual serving as trustee. b. If one or more co-trustees remain in office, a vacancy in a trusteeship need not be filled unless the trust instrument provides otherwise. A vacancy in a trusteeship shall be filled if the trust has no remaining trustee. c. A vacancy in a trusteeship of a noncharitable trust that is required to be filled shall be filled in the following order of priority: (1) by a person designated pursuant to the terms of the trust to act as successor trustee; (2) by a procedure established pursuant to the terms of the trust to appoint a successor trustee; (3) by a person appointed by unanimous agreement of the qualified beneficiaries; or (4) by a person appointed by the court. d. A vacancy in a trusteeship of a charitable trust that is required to be filled shall be filled in the following order of priority: (1) by a person designated pursuant to the terms of the trust to act as successor trustee; or (2) by a person appointed by the court. e. Whether or not a vacancy in a trusteeship exists or is required to be filled, the court may appoint an additional trustee or special fiduciary whenever the court considers the appointment desirable for the administration of the trust. f. A person appointed to fill a vacancy in a trusteeship shall have all the powers and discretions of the original trustee.  L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-50 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-50 - Resignation of trustee.

3B:31-50 Resignation of trustee.  3B:31-50. Resignation of Trustee. a. A trustee may resign: (1) upon at least 30 days' notice to the qualified beneficiaries, the settlor, if living, all co-trustees, and the trustee or trustees, if any, designated pursuant to the terms of the trust to succeed the resigning trustee; or (2) with the approval of the court. b. In approving a resignation, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property. c. Any liability of a resigning trustee or of any sureties on the trustee's bond for acts or omissions of the trustee is not discharged or affected by the trustee's resignation. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-51 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-51 - Removal of trustee.

3B:31-51 Removal of trustee.  3B:31-51. Removal of Trustee. a. The settlor, a co-trustee, or a beneficiary may request the court to remove a trustee, or a trustee may be removed by the court on its own initiative. b. The court may remove a trustee for any of the reasons stated in N.J.S.3B:14-21.  c. Pending a final decision on a request to remove a trustee, or in lieu of or in addition to removing a trustee, the court may order such appropriate relief as may be necessary to protect the trust property or the interests of the beneficiaries. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-52 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-52 - Delivery of property by former trustee.

3B:31-52 Delivery of property by former trustee.  3B:31-52. Delivery of Property by Former Trustee. a. Unless a co-trustee remains in office or the court otherwise orders, and until the trust property is delivered to a successor trustee or other person entitled to it, a trustee who has resigned or been removed has the duties of a trustee and the powers necessary to protect the trust property. b. A trustee who has resigned or been removed shall proceed expeditiously to deliver the trust property within the trustee's possession to the co-trustee, successor trustee, or other person entitled to it, but a resigning trustee may retain a reasonable reserve for the costs of finalizing that trustee's administration of the trust. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-53 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-53 - Reimbursement of expenses.

3B:31-53 Reimbursement of expenses.  3B:31-53. Reimbursement of Expenses. a. In addition to the compensation allowed by N.J.S.3B:18-2 et seq., a trustee is entitled to be reimbursed out of the trust property 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. b. An advance by a trustee of money or other property for the protection of the trust gives rise to a lien against trust property to secure reimbursement. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-54 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-54 - Duty to administer trust.

3B:31-54 Duty to administer trust.  3B:31-54. Duty to Administer Trust. Upon acceptance of a trusteeship, the trustee shall administer the trust in good faith, in accordance with its terms and purposes and the interests of the beneficiaries, and in accordance with this act and other applicable law. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-56 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-56 - Duty of impartiality.

3B:31-56 Duty of impartiality.  3B:31-56. Duty of Impartiality. If a trust has two or more beneficiaries, the trustee shall act impartially in investing, managing, and distributing the trust property, giving due regard to the beneficiaries' respective interests. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-57 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-57 - Duty of prudent administration.

3B:31-57 Duty of prudent administration.  3B:31-57. Duty of Prudent Administration. A trustee shall administer the trust as a prudent person would, by considering the purposes, terms, distributional requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill, and caution. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-58 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-58 - Costs of administration.

3B:31-58 Costs of administration.  3B:31-58. Costs of Administration. In administering a trust, the trustee may incur only costs that are appropriate and reasonable in relation to the trust property, the purposes of the trust, and the skills of the trustee. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-59 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-59 - Duty to use special skills.

3B:31-59 Duty to use special skills.  3B:31-59. Duty to Use Special Skills. A trustee who has special skills or expertise, or is named trustee in reliance upon the trustee's representation that the trustee has special skills or expertise, has a duty to use those special skills or expertise. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-60 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-60 - Delegation by trustee.

3B:31-60 Delegation by trustee.  3B:31-60. Delegation by Trustee. a. A trustee may delegate ministerial, administrative and management duties and powers that a prudent trustee of comparable skills could properly delegate under the circumstances.  b. The trustee shall exercise reasonable care, skill, and caution in: (1) selecting an agent; (2) establishing in writing the scope and terms of the delegation, consistent with the purposes and terms of the trust; and (3) periodically reviewing the agent's actions in order to monitor the agent's performance and compliance with the terms of the delegation. c. A trustee shall provide reasonable written notice to the qualified beneficiaries on each occasion upon which the trustee delegates duties pursuant to this section, including the identity of the agent.  d. A trustee who complies with subsections b. and c. of this section is not liable to the beneficiaries or to the trust for an action of the agent to whom the function was delegated. e. In performing a delegated function, the agent shall owe to the trustee and the beneficiaries the same duties as the fiduciary and shall be held to the same standards as the fiduciary. f. By accepting a delegation of powers or duties from the trustee of a trust that is subject to the law of this State, an agent submits to the jurisdiction of the courts of this State, even if the delegation agreement provides otherwise. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-61 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-61 - Powers to direct.

3B:31-61 Powers to direct.  3B:31-61. Powers to Direct. a. While a trust is revocable, the trustee may follow a direction of the settlor that is contrary to the terms of the trust. b. If the terms of a trust confer upon a person other than the settlor of a revocable trust the power to direct certain actions of the trustee, the trustee shall act in accordance with a written exercise of the power unless the attempted exercise is contrary to the terms of the trust or the trustee knows the attempted exercise would constitute a breach of a fiduciary duty that the person holding the power owes to the beneficiaries of the trust. c. The terms of a trust may confer upon a trustee or other person a power to direct the modification or termination of the trust. d. A person, other than a beneficiary, who holds a power to direct is required to act in good faith with regard to the purposes of the trust and the interests of the beneficiaries. The holder of a power to direct is liable for any loss that results from the holder's failure to act in good faith. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-63 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-63 - Control and protection of trust property.

3B:31-63 Control and protection of trust property.  3B:31-63. Control and Protection of Trust Property. A trustee shall take reasonable steps to take control of and protect the trust property. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-64 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-64 - Recordkeeping and identification of trust property.

3B:31-64 Recordkeeping and identification of trust property.  3B:31-64. Recordkeeping and Identification of Trust Property. a. A trustee shall keep adequate records of the administration of the trust. b. A trustee shall keep trust property separate from the trustee's own property. c. Except as otherwise provided in subsection d. of this section, a trustee shall cause the trust property to be designated so that the interest of the trust, to the extent feasible, appears in records maintained by a party other than a trustee or beneficiary. d. If the trustee maintains records clearly indicating the respective interests, a trustee may invest as a whole the property of the trust with other fiduciary accounts maintained by the trustee. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-65 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-65 - Duty to enforce and defend claims.

3B:31-65 Duty to enforce and defend claims.  3B:31-65. Duty to Enforce and Defend Claims.  A trustee shall take reasonable steps to enforce claims of the trust and to defend claims against the trust. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-66 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-66 - Duty to collect trust property and redress breaches of trust.

3B:31-66 Duty to collect trust property and redress breaches of trust.  3B:31-66. Duty to Collect Trust Property and Redress Breaches of Trust.  a. A trustee shall take reasonable steps to compel a former trustee or other person to deliver trust property to the trustee.  b. A trustee shall take reasonable steps to redress a breach of trust known to the trustee to have been committed by a former trustee. L.2015, c.276, s.1.