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Home/Legislation/Trustee Act 1925/48

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Trustee Act 1925

48Receipts

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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.

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Section 48 - Trustee Act 1925 - Receipts — Zoe