{"data":{"id":"us-nm/46a-4-414","jurisdiction":"us-nm","citation":"46A-4-414","heading":"Termination of uneconomic trust.","body":"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.\nB. 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.\nC. 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.\nD. This section does not apply to an easement for conservation or preservation.","path":["Chapter 46A - Uniform Trust Code","ARTICLE 4 Creation, Validity, Modification and Termination of Trust"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18548/index.do","current_through":"2024-04-26","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"31261905aabfe29b64bd2ddd38e74cb51ae579fe61a00289381f14982644cac1","source_id":"us-nm","stale":false,"prev":"us-nm/46a-4-413","next":"us-nm/46a-4-415"},"notice":"GroundRules: Original legal text. Not legal advice."}