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StatuteTrusts Act 2019

Section 117 — Trusts Act 2019: Requirements to notify, register, or record divesting and vesting of trust property

Text of the provision Official document

117 Requirements to notify, register, or record divesting and vesting of trust property (1) If, or to the extent that, the divesting and vesting of trust property must be notified, registered, or recorded under the requirements of another Act,— (a) the divesting and vesting are subject to the requirements and do not take effect until the requirements are satisfied; and (b) the execution of the document of appointment, removal, or discharge vests in the persons who become and are the trustees a right to call for the transfer of the trust property; and (c) a copy of that document or those documents and a statutory declaration by a continuing or new trustee of the trust that each relevant document was validly executed are sufficient proof of a right claimed under paragraph (b). (2) Subsection (1)(c) does not apply where the document is a court order, and a copy of the order is sufficient proof of a right claimed under subsection (1)(b).

Official source: legislation.govt.nz

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