A trustee is not liable to a beneficiary for breach of trust if the beneficiary consented to the conduct constituting the breach, released the trustee from liability for the breach or ratified the transaction constituting the breach, unless:
A. the consent, release or ratification of the beneficiary was induced by improper conduct of the trustee; or
B. at the time of the consent, release or ratification, the beneficiary did not know of the beneficiary's rights or of the material facts relating to the breach.
History: Laws 2003, ch. 122, § 10-1008; recompiled as § 46A-10-1009 by Laws 2007, ch. 128, § 30.
Recompilation. — Laws 2007, ch. 128, § 30 recompiled former 46A-10-1008 NMSA 1978, as enacted by Laws 2003, ch. 122, § 10-1008, as 46A-10-1009 NMSA 1978, effective July 1, 2007.
Law reviews. — For article, "The New Mexico Uniform Trust Code," see 34 N.M.L. Rev. 1 (2004).
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