15Vesting of trust property in new or continuing trustees

### 15 Vesting of trust property in new or continuing trustees > *\[Section 15 Amended by 25 Geo. V No. 78 \]* > > > (1)  Where a deed or instrument by which a new trustee is appointed to perform any trust contains a declaration by the appointor to the effect that any estate or interest in any land subject to the trust, or in any chattel so subject, or the right to recover and receive any debt or other thing in action so subject, shall vest in the persons who by virtue of the deed or instrument become and are the trustees for performing the trust, that declaration shall, without any conveyance or assignment, operate to vest in those persons, as joint tenants, and for the purposes of the trust, that estate, interest, or right. > > > (2)  Where a deed or instrument by which a retiring trustee is discharged under this Act contains such a declaration as is in this section mentioned by the retiring and continuing trustees, and by the other person, if any, empowered to appoint trustees, that declaration shall, without any conveyance or assignment, operate to vest in the continuing trustees alone, as joint tenants, and for the purposes of the trust, the estate, interest, or right to which the declaration relates. > > > (3)  This section does not extend to land conveyed by way of mortgage for securing money subject to the trust, or to any such share, stock, annuity, or property as is only transferable in books kept by a company or other body or in manner directed by or under any Act. > > > (4)  For purposes of registration of the deed or instrument in any registry, the person making the declaration shall be deemed the conveying party, and the conveyance shall be deemed to be made by him under a power conferred by this Act.