JSB171 Lecture Notes - Lecture 1: Testator, Inter Vivos, Settlor
Document Summary
Applies whether or not a contrary intention appears in the trust instrument: s 10 ta: death. Surviving legal representative trustees will have to administer the property until a new one is chosen: where there is another person already selected, legal representative may transfer the interest to the new trustee. Vesting order may also be made (see above) There is at least 2 trustees or a trustee corporation/s that can take their place: s14(1); or. Co-trustees consent: s14(2: court permits the trustee to retire: guazzini v pateson; s80. Statutory power: ability to remove a trustee cannot be excluded by the trust instrument: s10 ta. Jurisdiction : inherent jurisdiction guazzini v pateson (1918) and, statutory power: s 80(1) ta. Court may remove a trustee and appoint a new one where would be inexpedient, difficult or impractical to do so without the assistance of the court: s 80(1) ta: specifically, where s 80(2)
