property indemnity
Meaning of &quot;indemnify from property&quot;
<p>I understand the meaning of "<em>indemnify from</em>" when it is used with "loss" or "claim": if someone is indemnified from that, they are legally shielded from it and will not suffer.</p>

<p>But "<em>indemnify from property</em>" is confusing. What legal harm can property cause to be shielded from?</p>

<p>For example, <a href="http://www.legislation.govt.nz/bill/government/2017/0290/latest/whole.html#DLM7382995" rel="nofollow noreferrer">here</a>:</p>

<blockquote>
  <p>(1) This section applies if a trustee incurs an expense or a liability to
  a creditor and the trustee—</p>
  
  <p>(a) has a right to be indemnified from the
  trust property; or</p>
  
  <p>(b) for any reason is not entitled to be
  indemnified or fully indemnified from the trust property (for example,
  because the trustee incurred the liability in breach of trust)</p>
</blockquote>

<p>Also if you search exact phrases "<em>indemnified from the property</em>", "<em>indemnified from property</em>" etc. there will be other examples which I am not sure what sense they make.</p>

<p>My understanding is that indemnification is a promise that if you are held liable, someone else will compensate you.  In this case, that "someone else" is the trust property.</p>

<p>In other words, this refers to a situation where if the trustee were to incur a certain expense or liability, they would be paid back out of the trust property.</p>

<h2>Property and Assets are synonyms</h2>

<p>Indemnified from the property of the trust means that the person so indemnified can be recompensed from the assets of the trust (which could be cash, negotiable instruments, real property, personal property or intellectual property).</p>
