Trusts Act 2025
sec.7Meaning of trustee and statutory trustee
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sec.7 Meaning of trustee and statutory trustee
Trustee includes— a trustee corporation; and another corporation in which property subject to a trust is vested; and a personal representative; and a statutory trustee. A person, other than a person under a legal incapacity, is a statutory trustee in relation to trust property comprising land if— the person is beneficially entitled to possession of the land, or to the rents and profits of the land; and apart from this section, there is no trustee of the land. See part 14 in relation to statutory trustees. (sec.7-ssec.1) Trustee includes— a trustee corporation; and another corporation in which property subject to a trust is vested; and a personal representative; and a statutory trustee. (sec.7-ssec.2) A person, other than a person under a legal incapacity, is a statutory trustee in relation to trust property comprising land if— the person is beneficially entitled to possession of the land, or to the rents and profits of the land; and apart from this section, there is no trustee of the land. See part 14 in relation to statutory trustees.
- (a) a trustee corporation; and
- (b) another corporation in which property subject to a trust is vested; and
- (c) a personal representative; and
- (d) a statutory trustee.
- (a) the person is beneficially entitled to possession of the land, or to the rents and profits of the land; and
- (b) apart from this section, there is no trustee of the land.