Lawgist56Right to specific execution
The beneficiary is entitled to have the intention of the author of the trust specifically executed to the extent of the beneficiary s interest;
Right to transfer of possession.-- and, where there is only one beneficiary and he is competent to contract, or where there are several beneficiaries and they are competent to contract and all of one mind, he or they may require the trustee to transfer the trust -property to him or them, or to such person as he or they may direct.
When property has been transferred or bequeathed for the benefit of a married woman, so that she shall not have power to deprive herself of her beneficial interest, nothing in the second clause of this section applies to such property during her marriage.
Illustrations
Certain Government securities are given to trustees upon trust to accumulate the interest until A attains the age of 24, and then to transfer the gross amount to him. A on attaining majority may, as the person exclusively interested in the trust-property, require the trustees to transfer it immediately to him.
A bequeaths Rs.10,000 to trustees upon trust to purchase an annuity for B, who has attained his majority and is otherwise competent to contract. B may claim the Rs. 10,000.
A transfers certain property to B and directs him to sell or invest it for the benefit of C, who is competent to contract. C may elect to take the property in its original character
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- 1 Short title
- 2 Repeal of enactments
- 3 Interpretation-clause
- 4 Lawful purpose
- 5 Trust of immoveable property
- 6 Creation of trust
- 7 Who may create trusts
- 8 Subject of trust
- 9 Who may be beneficiary
- 10 Who may be trustee
- 11 Trustee to execute trust
- 12 Trustee to inform himself of state of trust-property
- 13 Trustee to protect title to trust-property
- 14 Trustee not to set up title adverse to beneficiary
- 15 Care required from trustee
- 16 Conversion of perishable property
- 17 Trustee to be impartial
- 18 Trustee to prevent waste
- 19 Accounts and information
- 20 Investment of trust-money
- 20A Power to purchase redeemable stock at a premium
- 21 Mortgage of land pledged to Government under Act 26 of 1871
- 22 Sale by trustee directed to sell within specified time
- 23 Liability for breach of trust
- 24 No set-off allowed to trustee
- 25 Non-liability for predecessor’s default
- 26 Non-liability for co-trustee’s default
- 27 Several liability of co-trustees
- 28 Non-liability of trustee paying without notice of transfer by beneficiary
- 29 Liability of trustee where beneficiary’s interest is forfeited to the Government
- 30 Indemnity of trustees
- 31 Right to title-deed
- 32 Right to reimbursement of expenses
- 33 Right to indemnity from gainer by breach of trust
- 34 Right to apply to Court for opinion in management of trust -property
- 35 Right to settlement of accounts
- 36 General authority of trustee
- 37 Power to sell in lots, and either by public auction or private contract
- 38 Power to sell under special conditions
- 39 Power to convey
- 40 Power to vary investments
- 41 Power to apply property of minors, etc., for their maintenance, etc
- 42 Power to give receipts
- 43 Power to compound, etc
- 44 Power to several trustees of whom one disclaims or dies
- 45 Suspension of trustee’s powers by decree
- 46 Trustee cannot renounce after acceptance
- 47 Trustee cannot delegate
- 48 Co-trustees cannot act singly
- 49 Control of discretionary power
- 50 Trustee may not charge for services
- 51 Trustee may not use trust-property for his own profit
- 52 Trustee for sale or his agent may not buy
- 53 Trustee may not buy beneficiary’s interest without permission
- 54 Co-trustees may not lend to one of themselves
- 55 Rights to rents and profits
- 56 Right to specific execution
- 57 Right to inspect and take copies of instrument of trust, accounts, etc
- 58 Right to transfer beneficial interest
- 59 Right to sue for execution of trust
- 60 Right to proper trustees
- 61 Right to compel to any act of duty
- 62 Wrongful purchase by trustee
- 63 Following trust-property into the hands of third persons; into that into which it has been converted
- 64 Saving of rights of certain transferees
- 65 Acquisition by trustee of trust-property wrongfully converted
- 66 Right in case of blended property
- 67 Wrongful employment by partner-trustee of trust property for partnership purposes
- 68 Liability of beneficiary joining in breach of trust
- 69 Rights and liabilities of beneficiary’s transferee
- 70 Office how vacated
- 71 Discharge of trustee
- 72 Petition to be discharged from trust
- 73 Appointment of new trustees on death, etc
- 74 Appointment by Court
- 75 Vesting of trust-property in new trustees
- 76 Survival of trust
- 77 Trust how extinguished
- 78 Revocation of trust
- 79 Revocation not to defeat what trustees have duly done
- 80 Where obligation in nature of trust is created
- 81 [Repealed.]
- 82 [Repealed.]
- 83 Trust incapable of execution or executed without exhausting trust -property
- 84 Transfer for illegal purpose
- 85 Bequest for illegal purpose
- 86 Transfer pursuant to rescindable contract
- 87 Debtor becoming creditor’s representative
- 88 Advantage gained by fiduciary
- 89 Advantage gained by exercise of undue influence
- 90 Advantage gained by qualified owner
- 91 Property acquired with notice of existing contrac
- 92 Purchase by person contracting to buy property to be held on trust
- 93 Advantage secretly gained by one of several compounding creditors
- 94 Repealed
- 95 Obligor’s duties, liabilities and disabilities
- 96 Saving of rights of bona fide purchasers
