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An Act to make new provision about trusts of land including provision phasing out the Settled Land Act 1925, abolishing the doctrine of conversion and otherwise amending the law about trusts for sale of land; to amend the law about the appointment and retirement of trustees of any trust; and for connected purposes. Citation: 1996 c. 47: Dates
Once a trust is running, Trusts of Land and Appointment of Trustees Act 1996 section 19 allows beneficiaries of full capacity to determine who the new trustees are, if other replacement procedures are not in the trust document.
A settlement is defined by s2(1) of the 1882 act as "any land or any estate or interest in land, which stands for the time being limited to or in trust for any persons by way of succession". Basically, whenever a document creates a succession of interests in land the Settled Land Acts will apply.
[19] The term "grantor trust" also has a special meaning in tax law. A grantor trust is defined under the Internal Revenue Code as one in which the federal income tax consequences of the trust's investment activities are entirely the responsibility of the grantor or another individual who has unfettered power to take out all the assets. [20]
The Trustee Act 1925 (15 & 16 Geo. 5. c. c. 19) is an Act of Parliament of the United Kingdom passed on 9 April 1925, which codified and updated the regulation of trustees ' powers and appointment.
The Native Trust and Land Act, 1936 (Act No. 18 of 1936; subsequently renamed the Bantu Trust and Land Act, 1936 and the Development Trust and Land Act, 1936) in South Africa passed a law that served as the reorganisation of its agricultural structures, thus formalising the separation of white and black rural areas. This followed the ...
The modern law's sources derive from the old courts of common law and equity, and legislation such as the Law of Property Act 1925, the Settled Land Act 1925, the Land Charges Act 1972, the Trusts of Land and Appointment of Trustees Act 1996 and the Land Registration Act 2002. At its core, English land law involves the acquisition, content and ...
Joint Tribal Council of the Passamaquoddy Tribe v. Morton, 528 F.2d 370 (1st Cir. 1975), [1] was a landmark decision regarding aboriginal title in the United States.The United States Court of Appeals for the First Circuit held that the Nonintercourse Act applied to the Passamaquoddy and Penobscot, then non-federally-recognized Indian tribes, and established a trust relationship between those ...