New Jersey § 3b:31-72
Full text of New Jersey New Jersey Statutes § 3b:31-72, with citation guidance and answers to common questions.
§ 3b:31-72.
Damages for Breach of Trust. a. A trustee who commits a breach of trust is liable to the beneficiaries affected
for the greater of: (1) the amount required to restore the value of the trust property and trust distributions
to what they would have been had the breach not occurred; or (2) the profit the trustee made by reason of the breach. b. Except as otherwise provided in this subsection, if more than one trustee is liable
to the beneficiaries for a breach of trust, a trustee is entitled to contribution
from the other trustee or trustees based on the comparative degree of culpability
for the breach. However, a trustee who committed the breach in bad faith or with reckless indifference
to the purposes of the trust or the interests of the beneficiaries is not entitled
to contribution from a trustee who was not guilty of such conduct. A trustee who received a benefit from the breach of trust is not entitled to contribution
from another trustee to the extent of the benefit received.
Frequently Asked Questions About New Jersey § 3b:31-72
What does New Jersey Statutes § 3b:31-72 cover?
Section 3b:31-72 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 3b:31-72?
A common citation format is "New Jersey Statutes § 3b:31-72" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 3b:31-72 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.