ACTIn ForceAct
Trustee Act 1925
48Receipts
Start here
Get a plain-English read of 48
Turn the raw legal text into a practical explanation grounded in Trustee Act 1925.
48 Receipts (1) This section applies if trustees give a written receipt to a person for personal property payable, transferable or deliverable to the trustees under a trust or power. (2) The receipt— (a) is a sufficient discharge for the property; and (b) relieves the person from— (i) seeing to the application of the property; or (ii) being answerable for any loss or misapplication of the (3) In this section: personal property includes an amount of money.