Vesting of property in trustees-trusts laws, Financial Accounting

VESTING OF PROPERTY IN TRUSTEES

The settlor must transfer the property to the original trustees in the proper legal manner. Similar transfers must be made on a change of trustee; but if a new trustee is appointed by deed, this operates to vest property automatically, except for:
 
1. Land conveyed by way of mortgage to secure trust moneys lent;
2. Leasehold land held under a covenant not to assign without consent (unless consent is obtained);
3. Registered stocks and shares, which must be transferred in the proper manner S.41.
 
The court has power to make vesting orders in appropriate circumstances.

Posted Date: 12/13/2012 6:25:17 AM | Location : United States







Related Discussions:- Vesting of property in trustees-trusts laws, Assignment Help, Ask Question on Vesting of property in trustees-trusts laws, Get Answer, Expert's Help, Vesting of property in trustees-trusts laws Discussions

Write discussion on Vesting of property in trustees-trusts laws
Your posts are moderated
Related Questions
WILLS A will is the legal declaration by a person of his wishes or intentions regarding the disposition of his property after his death, duly made and executed according to the p

The income elasticity of money demand is 2/3. Real income is expected to grow by 4.5% over the next year, and the real interest rate is expected to remain constant over the next ye

1. Will implementing SAP R/3 across the entire PCD division provide the division with a competitive advantage?  Justify your answer carefully. 2. The Raleigh team promised IBM c

1. Lett Corp declared and issued a 15% stock dividend when they had 100,000 shares of common stock issued and outstanding. The market price of the stock was $20 per share on the de

Liquidity Ratios - These ratios include the Current Ratio and the Quick Ratio or the acid test ratio. Liquidity ratios show the Liquid position of a company in the short term i.e

SAMPLES PITCH FOR AN ACCOUNTING ASSIGNMENTS

How does ordinary shares and preference shares included in the account

Q. What is Lifetime Learning Credit? Lifetime Learning Credit - This allows a credit for 20 percent of qualified tuition and fees paid by taxpayer with respect to one or more s

What is the financial objective of a business A business is created to enhance wealth of its owners. This may come as a surprise, as there are other objectives which a business

Q. What is fair value in stock market? Fair value - Amount at which an asset (or liability) could be bought (or incurred) or sold (or settled) in a current transaction between