Act Info:
A trustee who has accepted the trust cannot afterwards renounce it except (a) with the permission of a principal civil court of original jurisdiction, or (b) if the beneficiary is competent to contract, with his consent, or (c) by virtue of a special power in the instrument of trust.
Section 47 - Trustee cannot delegate
A trustee cannot delegate his office or any of his duties either to a co-trustee or to a stranger, unless (a) the instrument of trust so provides, or (b) the delegation is in the regularcourse of business,or(c) the delegation is necessary, or (d) the beneficiary, being competent to contract, consents to the delegation.
Explanation--The appointment of an attorney or proxy to do an act merely ministerial and involving no independent discretion is not a delegation within the meaning of this section.
Illustrations
(a) A bequeaths certain property to B and C on certain trusts to be executed by them or the survivor of them or the assigns of such survivor. B dies. C may bequeath the trust-property to D and K upon the trusts of A's will.
(b) A is a trustee of certain property with power to sell the same. A may employ an auctioneer to effect the sale.
(c) A bequeaths to B fifty houses let at monthly rents in trust to collect the rents and pay them to C, B may employ a proper person to collect these rents.
Section 48 - Co-trustees cannot act singly
When there are more trustees than one, all must join in the execution of the trust, except where the instrument of trust otherwise provides.
Section 49 - Control of discretionary power
Where a discretionary power conferred on a trustee is not exercised reasonably and in good faith, such power may be controlled by a principal civil court of original jurisdiction.
Section 50 - Trustee may not charge for services
In the absence of express directions to the contrary contained in the instrument of trust or of a contract to the contrary entered into with the beneficiary or the court at the time of accepting the trust, a trustee has no right to remuneration for his trouble, skill and loss of time in executing the trust.
Nothing in this section applies to any Official Trustee, Administrator General, Public Curator, or person holding a certificate of administration.
Section 51 - Trustee may not use trust-property for his own profit
A trustee may not use or deal with the trust-property for his own profit or for any other purpose unconnected with the trust.
Section 52 - Trustee for sale or his agent may not buy
No trustee whose duty it is to sell trust-property, and no agent employed by such trustee for the purpose of the sale, may, directly or indirectly, put the same or any interest therein, on his own account or as agent for a third person.
Section 53 - Trustee may not buy beneficiary's interest without permission
No trustee, and no person who has recently ceased to be a trustee, may, without the permission of a principal civil court of original jurisdiction, buy or become mortgagee or lessee of the trust-property or any part thereof; and such permission shall not be given unless the proposed purchase, mortgage or lease is manifestly for the advantage of the beneficiary.
Trustee for purchase.--And no trustee whose duly it is to buy or to obtain a mortgage or lease of particular property for the beneficiary may buy it, or any part thereof, or obtain a mortgage or lease of it, or any part thereof, for himself.
Section 54 - Co-trustees may not lend to one of themselves
A trustee or co-trustee whose duty it is to invest trust-money on mortgage or personal security must not invest it on a mortgage by, or on the personal security of, himself or one of his co-trustees.