21Vesting of trust property

21 Vesting of trust property

[Section 21 Amended by 25 Geo. V No. 78 ]

(1)  Upon the registration under the provisions of this Act of the death or other cessation from office of any registered trustee of any registered trust, the property hereinafter mentioned vested in such trustee upon such trust, or, in case he is dead, which was vested in him upon such trust at the time of his death, shall vest in the remaining registered trustees, or, in case there is no registered trustee, in the next trustee who may be registered.

(2)  Upon such registration of any new trustee the property hereinafter mentioned vested in the other registered trustees shall vest in them or him jointly with such new trustee, that is to say, all property that will pass by delivery merely of such property, or of any document of title relating thereto, or that is comprised in any document of title made expressly upon such trust, or upon which an acknowledgment in writing that the same is held upon such trust has been signed by the trustees named therein, or upon which any such memorandum as aforesaid that the premises comprised therein are held by the trustees of such trust has been made by the Recorder; and so much of any property comprised in any document of title upon which any such memorandum as aforesaid that some part of the premises comprised therein is held by the trustees of such trust has been so made and signed, as is referred to in such memorandum as so held.

(3)  For the purposes of this section, it shall be sufficient if any trust is described in any document of title, memorandum, or acknowledgment so as to identify the same with the registration thereof in the Register of Public Trusts; and the registered trustees shall be empowered to do and suffer all acts, matters, and things with respect to any such property that any their predecessors in office as such trustees might have done.