Official Trustee - Law Dictionary Search Results
Home Dictionary Name: official trusteeOfficial trustee
Official trustee, the official trustee mentioned in s. 6, Married Women's Property Act is not the legal person referred to in the Official Trustees Act of 1913, which is a corporation sole, Smt. Haridasi Debi v. Manufacturers Life Assurance Co. Ltd., AIR 1937 Cal 379: 107 IC 912....
Official trustee of charity lands
Official trustee of charity lands, the secretary for the time being of the Charity Commissioners, who is constituted a corporation sole by that name for taking and holding charity lands: see (English) Charitable Trusts Act, 1853, s. 49; Charitable Trusts Amendment Act, 1855, s. 15....
Official trustees of charitable funds
Official trustees of charitable funds, officers of the Charity Commissioners appointed to hold stocks and securities belonging to charities: see (English) Charitable Trusts Act, 1853, s. 51; (English) Charitable Trusts Amendment Act, 1855, s. 18; (English) Charitable Trusts Act, 1887, s. 4....
Official receivers
Official receivers, officers appointed by the Board of Trade under s. 66 of the (English) Bankruptcy Act, 1883, to act as interim receivers and managers of bankrupts' estates, pending the appointment of trustees in bankruptcy: see now Bankruptcy Act, 1914, ss. 70 et seq. The report of an official receiver is absolutely privileged, Bottomley v. Brougham, (1908) 1 KB 584; Burr v. Smith, (1909) 2 KB 306. As to the official receiver becoming provisional liquidator on the making of a winding-uporder, see Companies Act, 1929, s. 185, and LIQUIDATOR...
Churchwardens
Churchwardens, anciently styled Church Reeves or Ecclesi' Guardiani, the guardians or keepers of the church, and representatives of the body of the parish; but though in some sort ecclesiastical officers, they are always lay persons. They are a quasi corporation for certain purpose, Withnell v. Gartham, (1795) 6 TR 388 (396), and in the City of London they are a corporation for the purpose of holding lands; but beyond that they are only annual officers, Fell v. Official Trustee of Charity Lands, 1898 (2) Ch 59. They are sometimes appointed by the minister, sometimes by the Vestry and Parochial Church Meeting sitting together (see 11 & 12 Geo. 5 No. 1, s. 13), sometimes by the minister and the meeting together, sometimes one by the minister and another by the meeting, as custom directs. Where there is no custom the election must be according to Canon 89 and s. 13 above, under which they must be chosen by the joint consent of the minister and the meeting, and if they cannot agree, then t...
Public trustee
Public trustee. The office of Public Trustee was established by the (English) Public Trustee Act, 1906, which came into force on 1st January, 1908. The Public Trustee is a corporation sole, and may if he thinks fit act in the administration of estates of deceased persons if under one thousand pounds; act as custodian trustee [see that title, and Re Cherry's Trusts, (1914) 1 Ch 83]; act as an ordinary trustee; be appointed to be a judicial trustee (see that title); be appointed administrator of the property of a convict under the Forfeiture Act, 1870; and he may also be appointed an executor and obtain a grant of probate (s. 5). He may be appointed a trustee whether the trust instrument came into operation before or after the Act, and either as an original or a new trustee, or as an additional trustee, in the same cases and manner and by the same persons or Court as if he were a private trustee, with this addition--that he may be appointed sole trustee although the trustees originally a...
Appointment of new trustees
Appointment of new trustees, See TRUSTEES. It was formerly necessary to inset a full power in instruments creating a trust providing a succession of trustees and nominating the person or persons by whom the power was to be exercised and specifying the various contingencies, as death, resignation, incapacity, etc., of the trustee, in which the power was to arise; otherwise application had to be made to the Court of Chancery. Latterly, however, a power for this purpose has been supplied by various Acts of Parliament, the statute at present in force being the (English) Trustee Act, 1925, ss. 36 and 37 replacing and extending the 10th section of the (English) Trustee Act, 1893 (56 & 57 Vict. c. 53), and s. 36 of the (English) Act of 1925 also provides for the appointment of additional trustees. S. 40 provides for the vesting of the trust property in the new trustees by a declaration in the deed of appointment or, deeds of appointment executed after 1925, no express vesting declaration appe...
Bare trustee
Bare trustee, A person holding property in trust for another without any beneficial interest in or duty in regard to it except to transfer it to the person entitled. Under the (English) Law of Property Act, 1925, 1st Sched., Part II., para 3, the legal estate, if any, in a bare trustee (not being a trustee for sale) automatically vested in the person who could call for a conveyance of it. Although this simplified conveyancing where the legal estate in the trustee was only remote, it was found that great inconvenience would be caused in cases where the legal estate in the trustee related to the entirety of the property in question according to its nature, and the Law of Property Amendment Act, 1926, provided that a purchaser for money or money's worth without notice of the trust upon production of the title deeds may accept the conveyance from the trustee or persons deriving title under him. See ACTIVE TRUSTEE.Bare trustee, in relation to a deposit means person holding the deposit on tr...
Judicial Trustee
Judicial Trustee, a trustee appointed by, and to act under the control of, the court, under the (English) judicial Trustees Act, 1896 (59 & 60 Vict. c. 35). Such a trustee may be appointed either jointly with any other person or as sole trustee, and if sufficient cause is shown in place of all or any existing trustees (s. 1); and the administration of the estate of a deceased person is a 'trust' within the meaning of the Act (ibid.). A judicial trustee is an officer of the court, and he may be remunerated out of the trust property and his accounts must be audited once a year and a report thereon made to the court (ibid). See also Judicial Trustee Rules, 1897, and Lewin on Trusts....
Trustee
Trustee, is the legal owner of the property the actual owner thereof having lost title thereto by the creation of a trust. The equitable ownership in the trust property vests in the beneficiaries. The trust is thus an incidence of dual ownership in which the creator of the trust no longer figures, Baba Badri Dass v. Dharma, AIR 1982 P&H 255.Means one who, having legal title to property, holds it in trust for the benefit of another and owes a fiduciary duty to that beneficiary, Black's Law Dictionary, 7th Edn., p. 1519.Trustee, one entrusted with property for the benefit of another, called beneficiary, or cestui que trust. See also PUBLIC TRUSTEE; BREACH OF TRUST.Consult Lewin or Godefroi on Trusts.'Trustee' means any person, by whatever desig-nation known, appointed to administer a religious trust either verbally or by or under any deed or instrument or in accordance with the usage of such trust or by the District Judge or any other competent authority, and includes any person appointe...
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