256Power to appoint trustees of child’s property

256 Power to appoint trustees of child’s property (a) a child is absolutely entitled under the will, or on the intestacy, of a person (the deceased person) to a devise or legacy, or to the residue of the estate of the deceased person, or to a share in the deceased person’s estate; and (b) the devise, legacy, residue or share is not, under a will of the deceased person, devised or bequeathed to trustees for the child. Note A devise is a disposal of real property by a will. To bequeath property is to dispose of personal property (ie property other than real property) by a will. (2) The personal representatives of the deceased person may, by registered deed, appoint a trust corporation or 2 or more individuals (not more than 4), or both, to be— (a) trustees of the devise, legacy, residue or share for the child; and (b) trustees for section 255 (Management of land during childhood) of any land devised or any land that is, or forms part of, the residue or share. (3) If a trust corporation, or a trust corporation and 1 or more individuals, are the personal representatives of the deceased person, the personal representatives may, by registered deed, appoint the trust corporation either alone or with 1 or 2 individuals to be the trustees for the child. (4) The personal representatives of the deceased person may— (a) appoint 1 or more of themselves to be trustees under subsection (2); or (b) appoint 1 or 2 of themselves who are individuals to be trustees under subsection (3). Children and children’s property Part 2.7 (5) On the appointment— (a) the Trustee Act 1925, section 9 (Vesting on appointment and retirement) applies to the vesting in the trustees of the devise, legacy, residue or share; and (b) the personal representatives, in that capacity, are discharged from further liability in relation to the devise, legacy, residue or share; and (c) the rights of the child in relation to the devise, legacy, residue or share are restricted to the property that, under this section and the Trustee Act 1925, section 9, is vested in the trustees for the child and do not extend to any other property; and (d) the devise, legacy, residue or share may be kept in its existing form or converted into money and the money invested in accordance with the Trustee Act 1925. (6) If land held under the Land Titles Act 1925 is affected by a registered deed mentioned in this section, the registrar-general must, as the registrar-general considers appropriate— (a) make an entry in the register of the vesting of the land; or (b) enter or withdraw caveats. (7) However, the registrar-general is not required to comply with subsection (6) unless the person the land is to be vested in— (a) asks, in writing, that the entry be made; and (b) gives any evidence supporting the request that the registrar-general reasonably requires; and (c) gives any notice of the request that the registrar-general reasonably requires to be given. (8) In this section: registered deed means a deed registered under the Registration of Deeds Act 1957. trust corporation does not include the public trustee and guardian.