11Ceasing to be executor

11 Ceasing to be executor (1) If any property is vested in any person as executor of a will under which he or she is the trustee of the property or is beneficially entitled to it, the person may, at any time after all the executorial duties with respect to the property have been duly performed, declare by registered instrument in writing that he or she has ceased to hold the property as executor and that he or she holds the same as trustee or as beneficiary, as the case may be. (2) Where a declaration is so made, the property shall, except as otherwise provided in this section, be deemed to be held in accordance with the declaration. (3) For land under the Land Titles Act 1925— (a) if the declaration is that the executor holds the land as trustee— the land is not taken to be so held until the registrar-general enters for the land a caveat forbidding the registration of any instrument not in accordance with the trusts and provisions of the will; or (b) if the declaration is that the executor holds the land as beneficiary—the land is not taken to be so held until the registrar-general withdraws any inconsistent caveat.