| Content |
| Sections |
Particulars |
| Chapter I |
Preliminary |
| 1 |
Short title and commencement |
| 2 |
Repeal of enactments |
| 3 |
Interpretation clause- "trust" |
| Chapter II |
The Creation Of Trusts
|
| 4 |
Lawful
purpose |
| 5 |
Trust of immovable property |
| 6 |
Creation of trust |
| 7 |
Who may create trusts |
| 8 |
Subject matter of trust |
| 9 |
Who may be beneficiary |
| 10 |
Who
may be trustee |
| Chapter III |
The Duties And Liabilities Of Trustees |
| 11 |
Trustee to execute trust |
| 12 |
Trustee to inform himself of state of trust-property |
| 13 |
Trustee to protect title to trust-property |
| 14 |
Trustee not to set up title adverse to beneficiary |
| 15 |
Care
required from trustee |
| 16 |
Conversion of perishable property |
| 17 |
Trustee to be impartial |
| 18 |
Trustee to prevent waste |
| 19 |
Accounts and information |
| 20 |
Investment of trust-money |
| 20A |
Power to purchase redeemable stock at a premium |
| 21 |
Mortgage of land Pledged to government under Act 26 of 1871-Deposit in government savings bank |
| 22 |
Sale by trustee directed to sell within specified time |
| 23 |
Liability for breach of trust |
| 24 |
No set-off allowed to trustee |
| 25 |
Non-liability for predecessor's default |
| 26 |
Non-liability for co-trustee's default |
| 27 |
Several liability of co-trustees |
| 28 |
Non-liability of trustee paying without notice of transfer by beneficiary |
| 29 |
Liability of trustee where beneficiary's interest is forfeited to the government |
| 30 |
Indemnity of trustees |
| Chapter IV |
The Rights And Powers Of Trustees |
| 31 |
Right to title deed |
| 32 |
Right to reimbursement of expenses |
| 33 |
Right to indemnity from gainer by breach of trust |
| 34 |
Right to apply to court for opinion in management of trust-property |
| 35 |
Right to settlement of accounts |
| 36 |
General authority of trustee |
| 37 |
Power
to sell in lots and either by public auction or private contract |
| 38 |
Power to sell under special conditions-Power to buy-in and re-sell |
| 39 |
Power to convey |
| 40 |
Power to vary investments |
| 41 |
Power to apply property of minors, etc. for their maintenance, etc. |
| 42 |
Power to give receipts |
| 43 |
Power to compound, etc. |
| 44 |
Power to several trustees of whom one disclaims or dies |
| 45 |
Suspension of trustee's powers by decree |
| Chapter V |
The Disabilities Of
Trustees |
| 46 |
Trustee cannot renounce after acceptance |
| 47 |
Trustee cannot delegate |
| 48 |
Co-trustees cannot act singly |
| 49 |
Control of discretionary power |
| 50 |
Trustee may not charge for services |
| 51 |
Trustee may not use trust property for his own profit |
| 52 |
Trustee for sale or his agent may not buy |
| 53 |
Trustee may not buy beneficiary's interest without permission |
| 54 |
Co-trustees may not lend to one of themselves |
| Chapter VI |
The Rights And Liabilities Of The Beneficiary |
| 55 |
Rights to rents and profits |
| 56 |
Right to specific execution |
| 57 |
Right to inspect and take copies of instrument of trust, accounts, etc. |
| 58 |
Right to transfer beneficial interest |
| 59 |
Right to sue for execution of trust |
| 60 |
Right to proper trustees |
| 61 |
Right to compel to any act of duty |
| 62 |
Wrongful purchase by trustee |
| 63 |
Following trust property-into the hands of third persons; into that into which it has been converted |
| 64 |
Saving of rights of certain transferees |
| 65 |
Acquisition by trustee of trust-property wrongfully converted |
| 66 |
Right in case of blended property |
| 67 |
Wrongful employment by partner-trustee of trust-property for partnership purposes |
| 68 |
Liability of beneficiary joining in breach of trust |
| 69 |
Rights and liabilities of beneficiary's transferee |
| Chapter VII |
Vacating The Office Of Trustee |
| 70 |
Office how vacated |
| 71 |
Discharge of trustee |
| 72 |
Petition to be discharged from trust |
| 73 |
Appointment of new trustees on death, etc. |
| 74 |
Appointment by court |
| 75 |
Vesting of trust-property in new trustees |
| 76 |
Survival of trust |
| Chapter VIII |
The Extinction Of Trusts
|
| 77 |
Trust how extinguished |
| 78 |
Revocation of trust |
| 79 |
Revocation not to defeat what trustees have duly done |
| Chapter IX |
Certain Obligations In The Nature Of Trusts |
| 80 |
Where obligation in nature of trust is created |
| 81 |
Where it does not appear that transferor intended to dispose of beneficial interest |
| 82 |
Transfer to one for consideration paid by another |
| 83 |
Trust
incapable of execution or executed without exhausting trust-property |
| 84 |
Transfer for illegal purpose |
| 85 |
Bequest for illegal purpose |
| 86 |
Transfer pursuant to rescindable contract |
| 87 |
Debtor becoming creditor's representative |
| 88 |
Advantage gained by fiduciary |
| 89 |
Advantage gained by exercise of undue influence |
| 90 |
Advantage gained by qualified owner |
| 91 |
Property acquired with notice of existing contract |
| 92 |
Purchase by person contracting to buy property to be held on trust |
| 93 |
Advantage secretly gained by one of several compounding creditors |
| 94 |
Constructive trusts in cases not expressly provided for |
| 95 |
Obligor's duties, liabilities and disabilities |
| 96 |
Saving of rights of bona fide purchasers |
| |
The Schedule |
| |
Footnotes |
