sec.173Effect of vesting and other orders

sec.173 Effect of vesting and other orders

A vesting order— divests the trust property or other property to which the order relates from the persons in whom the property was vested immediately before the order was made; and without any conveyance, transfer or assignment, vests the property in— the person named, as trustee or otherwise, in the order; or if more than 1 person is named, as trustee or otherwise, in the order—the persons named in the order, as joint tenants. However, to the extent the divesting and vesting of the trust property or other property have effect only if notified, registered or recorded under the requirements of another Act or of a law of another State or the Commonwealth, the divesting and vesting of the property are subject to the requirements of the other Act or law. If an order is made under section 171 (3) (c) , a conveyance or release by the appointed person in accordance with the order has the same effect as a vesting order. (sec.173-ssec.1) A vesting order— divests the trust property or other property to which the order relates from the persons in whom the property was vested immediately before the order was made; and without any conveyance, transfer or assignment, vests the property in— the person named, as trustee or otherwise, in the order; or if more than 1 person is named, as trustee or otherwise, in the order—the persons named in the order, as joint tenants. (sec.173-ssec.2) However, to the extent the divesting and vesting of the trust property or other property have effect only if notified, registered or recorded under the requirements of another Act or of a law of another State or the Commonwealth, the divesting and vesting of the property are subject to the requirements of the other Act or law. (sec.173-ssec.3) If an order is made under section 171 (3) (c) , a conveyance or release by the appointed person in accordance with the order has the same effect as a vesting order.

• (a) divests the trust property or other property to which the order relates from the persons in whom the property was vested immediately before the order was made; and
• (b) without any conveyance, transfer or assignment, vests the property in— (i) the person named, as trustee or otherwise, in the order; or (ii) if more than 1 person is named, as trustee or otherwise, in the order—the persons named in the order, as joint tenants.
• (i) the person named, as trustee or otherwise, in the order; or
• (ii) if more than 1 person is named, as trustee or otherwise, in the order—the persons named in the order, as joint tenants.
• (i) the person named, as trustee or otherwise, in the order; or
• (ii) if more than 1 person is named, as trustee or otherwise, in the order—the persons named in the order, as joint tenants.