Tag Archivestrustees

Caution for Trustees buying Trust property

Often individuals are appointed as the Trustee of a trusted friend or family member’s family Trust. Should, for example, the Trust’s founder pass away and the surviving spouse or the founder’s children wish to sell the Trust assets and dissolve the Trust, may the Trustee be in a position legally to acquire any of this […]

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preferential procurement

The general duties and obligations of trustees

The governance of a Trust is completely in the hands of its Trustees and all assets, liabilities, rights and duties of the Trust reside in them.  Consequently, an appointment as a Trustee is a position that comes with a substantial amount of responsibility and, therefore, it is an appointment not to be taken lightly. The […]

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removal of trustee

The removal of a trustee

What options are available if a trustee does not execute his mandate in the best interest of the beneficiaries as set out above, but is unwilling to resign as a trustee? Trusts are regulated by the Trust Property Control Act 57 of 1988 (“the Act”). In simple terms, a trust arrangement always involves three parties, […]

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