Trustee role Flashcards

1
Q

Who can be a trustee?

A

Any person except a minor. No restriction on how many, but for land, has to be a minimum of two

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2
Q

What happens if a trustee does not want to act or dies?

A

The executors will hold the property on trust until new trustees are appointed

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3
Q

In what ways can trustees be appointed?

A

1) using any express powers to appoint trustees found in the trust instrument
2) using statutory powers
3) by the beneficiaries exercising their Saunders v Vautier rights (by collapsing the trust and creating a new one with new trustees)
4) in the case of Charitable trusts, by the charity commission
5) by the court

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4
Q

How can trustees be removed?

A

1) through the trust instrument
2) through general statutory powers
3) the court
4) the charity commission

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5
Q

Can they retire?

A

Yes, trustees can retire voluntarily or by the direction of the beneficiaries (under s19 TLATA, and with Saunders v Vautier rights)

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