advnaveenmavi@gmail.com

advnaveenmavi@gmail.com

Non-liability of Trustee

Non-liability of Trustee Bare Provisions 25. Non-liability for predecessor’s default. —Where a trustee succeeds another, he is not, as such, liable for the acts or defaults of his predecessor. 26. Non-liability for co-trustee’s default. —Subject to the provisions of sections…

Who may be Trustee?

Who may be Trustee? According to Section 10– Every person capable of holding property may be a trustee; but, where the trust involves the exercise of discretion, he cannot execute it unless he is competent to contract. No one bound…

Kinds of Trusts

Kinds of Trusts: Trusts are either private or public. Private Trust: A trust is called a Private Trust when it is constituted for the benefit of one or more individuals who are, or within a given time may be, definitely…