Which Section of the Trustee Act 1925 Permits Trustees or Beneficiaries

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The Answer is In the United Kingdom, the Trustee Act 1925 provides the legal framework for the administration of trusts and the powers and duties of trustees. However, the specific provision that allows trustees or beneficiaries to seek the court's consent to vary a trust, particularly to grant trustees a power either to acquire or dispose of trust property, is not found in the Trustee Act 1925 itself.

Instead, the relevant legislation is the Variation of Trusts Act 1958. Section 1 of the Variation of Trusts Act 1958 gives the court the power to approve on behalf of beneficiaries who are either not yet born, unascertained, or under a legal disability, a variation of the terms of the trust. This can include granting trustees new powers to manage the trust property effectively.

The Trustee Act 1925 does contain various provisions regarding the powers of trustees, including the power to invest trust property (Section 3), the power to delegate certain functions (Section 23), and the power to apply to the court for directions concerning the management or administration of trust property (Section 57). However, for variations of the trust that include granting new powers to trustees, the appropriate legislation is the Variation of Trusts Act 1958.

If trustees or beneficiaries wish to vary the terms of a trust, they would typically apply to the court under the Variation of Trusts Act 1958, and the court would consider whether the proposed variation is in the best interests of the beneficiaries, taking into account the intentions of the settlor and the purpose of the trust.

Which Section of the Trustee Act 1925 Permits Trustees or Beneficiaries

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Which Section of the Trustee Act 1925 Permits Trustees or Beneficiaries

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