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    Disabilities of Trustees

    Uploaded by

    Charan N
    The document discusses the disabilities of trustees under the Indian Trust Act of 1882. It outlines 9 sections that describe limitations on trustees' actions to prevent conflicts of interest and ensure they appropriately execute their duties. Trustees cannot renounce their role after accepting it without permission. They cannot delegate core duties to others unless allowed by the trust instrument. When there are multiple trustees, all must jointly execute the trust unless the instrument specifies otherwise. A trustee also cannot use trust property for personal profit, buy trust property for themselves, lend trust money to themselves or a co-trustee, or charge fees without authorization.

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    Disabilities of Trustees

    Uploaded by

    Charan N
    38 views2 pages
    The document discusses the disabilities of trustees under the Indian Trust Act of 1882. It outlines 9 sections that describe limitations on trustees' actions to prevent conflicts of interest and ensure they appropriately execute their duties. Trustees cannot renounce their role after accepting it without permission. They cannot delegate core duties to others unless allowed by the trust instrument. When there are multiple trustees, all must jointly execute the trust unless the instrument specifies otherwise. A trustee also cannot use trust property for personal profit, buy trust property for themselves, lend trust money to themselves or a co-trustee, or charge fees without authorization.

    Original Description:

    KSLU Sem 2, Property Law Topic - Disabilities Of Trustees

    Original Title

    Disabilities Of Trustees

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    The document discusses the disabilities of trustees under the Indian Trust Act of 1882. It outlines 9 sections that describe limitations on trustees' actions to prevent conflicts of interest and ensure they appropriately execute their duties. Trustees cannot renounce their role after accepting it without permission. They cannot delegate core duties to others unless allowed by the trust instrument. When there are multiple trustees, all must jointly execute the trust unless the instrument specifies otherwise. A trustee also cannot use trust property for personal profit, buy trust property for themselves, lend trust money to themselves or a co-trustee, or charge fees without authorization.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    38 views2 pages

    Disabilities of Trustees

    Uploaded by

    Charan N
    The document discusses the disabilities of trustees under the Indian Trust Act of 1882. It outlines 9 sections that describe limitations on trustees' actions to prevent conflicts of interest and ensure they appropriately execute their duties. Trustees cannot renounce their role after accepting it without permission. They cannot delegate core duties to others unless allowed by the trust instrument. When there are multiple trustees, all must jointly execute the trust unless the instrument specifies otherwise. A trustee also cannot use trust property for personal profit, buy trust property for themselves, lend trust money to themselves or a co-trustee, or charge fees without authorization.

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    © All Rights Reserved
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    Disabilities Of Trustees

    The Indian Trust Act, 1882 deals with the disabilities of Trustees under Sections
    46 to 54 they are given as under-

    1. Trustee cannot renounce after acceptance (Section 46)


    A trustee who has accepted the trust cannot afterwards renounce it except-
    (a) with the permission of a principal civil court of original jurisdiction, or
    (b) if the beneficiary is competent to contract, with his consent, or
    (c) by virtue of a special power in the instrument of trust.

    2. A trustee cannot delegate his office (Section 47)


    A trustee cannot delegate his office or any of his duties either to a co-trustee
    or to a stranger, unless
    (a) the instrument of trust so provides, or
    (b) the delegation is in the regular course of business, or
    (c) the delegation is necessary, or
    (d) the beneficiary, being competent to contract, consents to the delegation.

    3. Co-trustees cannot act singly (Section 48)


    When there are more trustees than one, all must join in the execution of the
    trust, except where the instrument of trust otherwise provides.

    4. Control of discretionary power (Section 49)


    Where a discretionary power conferred on a trustee is not exercised
    reasonably and in good faith, such power may be controlled by a principal civil
    court of original jurisdiction.
    5. Trustee may not charge for services (Section 50)
    A trustee has no right to remuneration for his trouble, skill and loss of time in
    executing the trust, except-
    Where there is express direction in the instrument of trust; or
    there is a control entered into with the beneficiary
    where the court, at the time of accepting the trust, has sanctioned it.

    6. Trustee may not use trust property for his own profit (Section 51)
    A trustee may not use or deal with the trust-property for his own profit or for
    any other purpose unconnected with the trust.

    7. Trustee for sale or his agent may not buy (Section 52)
    No trustee whose duty it is to sell trust-property, and no agent employed by
    such trustee for the purpose of the sale, may, directly or indirectly, buy the
    same or any interest therein, on his own account or as agent for a third person.

    8. Trustee may not buy beneficiary’s interest without permission (Section 53)
    No trustee, and no person who has recently ceased to be a trustee, may,
    without the permission of a principal civil court of original jurisdiction, buy or
    become mortgagee or lessee of the trust-property or any part thereof; and
    such permission shall not be given unless the proposed purchase, mortgage or
    lease is manifestly for the advantage of the beneficiary.
    And no trustee whose duty it is to buy or to obtain a mortgage or lease of
    particular property for the beneficiary may buy it, or any part thereof, or
    obtain a mortgage or lease of it, or any part thereof, for himself.
    9. Co-trustees may not lend to one of themselves (Section 54)
    A trustee or co-trustee whose duty it is to invest trust-money on mortgage or
    personal security must not invest it on a mortgage by, or on the personal
    security of, himself or one of his co-trustees.

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