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Termination of uneconomic trust

NMSA 1978, § 46A-4-414
in effect
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46A-4-414. Termination of uneconomic trust A. After notice to the qualified beneficiaries, the trustee of a trust consisting of trust property having a total value less than fifty thousand dollars ($50,000) may terminate the trust if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration. B. The court may modify or terminate a trust or remove the trustee and appoint a different trustee if it determines that the value of the trust property is insufficient to justify the cost of administration. C. Upon termination of a trust under this section, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust. D. This section does not apply to an easement for conservation or preservation. Laws 2003, ch. 122, § 4 -414.
Source: New Mexico Compilation Commission (nmonesource.com)URL: https://nmonesource.com/nmos/nmsa-unanno/en/item/18548/index.do#!b/46A-4-414Fetched: 10/20/2026

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