sec.59Acquiring a trust interest

### sec.59 Acquiring a trust interest A person acquires a trust interest if— the person becomes a beneficiary of a trust, whether on creation of the trust or otherwise; or being a beneficiary of a trust, the person’s trust interest increases, other than because of the surrender of another person’s trust interest in the trust for which transfer duty has been paid. If a beneficiary’s trust interest is subject to a prior life interest, the interest does not increase merely because the life tenant dies or, over time, the extent of the life interest reduces. (sec.59-ssec.1) A person acquires a trust interest if— the person becomes a beneficiary of a trust, whether on creation of the trust or otherwise; or being a beneficiary of a trust, the person’s trust interest increases, other than because of the surrender of another person’s trust interest in the trust for which transfer duty has been paid. (sec.59-ssec.2) If a beneficiary’s trust interest is subject to a prior life interest, the interest does not increase merely because the life tenant dies or, over time, the extent of the life interest reduces. - (a) the person becomes a beneficiary of a trust, whether on creation of the trust or otherwise; or - (b) being a beneficiary of a trust, the person’s trust interest increases, other than because of the surrender of another person’s trust interest in the trust for which transfer duty has been paid.