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The Act defines how the author of the trust could create a trust and assign trustees and assign his monetary assets to be controlled by the trust. This trust should have a clear definition of the following: [3] [1] Intention by the author to create the trust; Purpose of the trust; The beneficiary of the monetary assets controlled by the trust
The trust was an addition to the law of property, in the situation where one person held legal title to property but the courts decided it was fair just or "equitable" that this person be compelled to use it for the benefit of another. This recognised as a split between legal and beneficial ownership: the legal owner was referred to as a ...
After providing details (in the form) regarding designation by which the public trust shall be known, names of trustees, mode of succession, etc., the applicant has to affix a court fee stamp of Rs.2/- to the form and pay a very nominal registration fee which may range from Rs.3/- to Rs.25/-, depending on the value of the trust property.
[67] A trustee can hold certain securities, usually publicly traded ones, in a "street name" or nominee registration for ease of management. [68] However, they are still subject to the rule that such securities must be "earmarked" specifically in records to a specific trust account. [15]
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The Settled Land Acts 1882 to 1890 is the collective title of the following Acts: [2] The Settled Land Act 1882 (45 & 46 Vict. c. 38) The Settled Land Act 1884 (47 & 48 Vict. c. 18) The Settled Land Acts (Amendment) Act 1887 (50 & 51 Vict. c. 30) The Settled Land Act 1889 (52 & 53 Vict. c. 36) The Settled Land Act 1890 (53 & 54 Vict. c. 69)
Although people are generally free to set the terms of trusts in any way they like, there is a growing body of legislation to protect beneficiaries or regulate the trust relationship, including the Trustee Act 1925, Trustee Investments Act 1961, Recognition of Trusts Act 1987, Financial Services and Markets Act 2000, Trustee Act 2000, Pensions ...
First, a trust of land requires a signature on a written document evidencing a declaration, under the Law of Property Act 1925 section 53(1)(b). This means, someone can first declare a trust of land without any writing or signature, so long as in the case of a dispute the declaration is evidenced in writing.