The Trusts Act
Federal Acts · Federal · 1882 · II of 1882
Legal status
In force
Effective date
1882-03-01
Sections
99
Chapter II — Of The Creation Of Trusts
Chapter III — Of 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 XIX of 1883 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 Joining in receipt for conformity
- 27: Several liability of co trustees Contribution as between co trustees
- 28: Non liability of trustee paying without notice of transfer by beneficiary
- 29: Liability of trustee where beneficiary's interest is forfetied to the Government
- 30: Indemnity of trustees
Chapter IV — Of The Rights And Powers Of Trustees
- 31: Right to title deed
- 32: Right to reimbursement of expenses Right to be recouped for erroneous over payment
- 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 Time allowed for selling trust property
- 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 disclaim or dies
- 45: Suspension of trustee's powers by decree
Chapter IX — Of 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 Bequest of which revocation is prevented by coercion
- 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
Chapter V — Of 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 this agent may not buy
- 53: Trustee may not buy beneficiary's interest without permission Trustee for purchase
- 54: Co trustees may not lend to one of themselves
Chapter VI — Of The Rights And Liabilities Of The Beneficiary
- 55: Rights to rents and profits
- 56: Right to specific execution Right to transfer of possession
- 57: Rights 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 — Of Vacating The Office Of Trustee
Chapter VIII — Of The Extinction Of Trusts
Preliminary
Schedule
- Schedule: The Schedule [Omitted](omitted)
Legal information only. Verify current law and obtain advice from a qualified lawyer for your circumstances.