Section 123 — Trusts Act 2019: Beneficiary’s right to share of trust property

123 Beneficiary’s right to share of trust property (1) A trustee must transfer a fixed share of the trust property to the beneficiary of that fixed share if— (a) the beneficiary is absolutely entitled to that share (for example, because any condition relating to the vesting of that share set by the terms of the trust has been met); and (b) the property is in a form, or can be changed into a form, that can be transferred to the beneficiary; and (c) the transfer is not detrimental to the interests of the other beneficiaries. (2) Subsection (1) does not apply in respect of a beneficiary who lacks capacity. (3) In this section, fixed share of the trust property means a share of the trust property that is specified or determined, and in respect of which the trustee does not have a discretion regarding to whom or in what proportion the share is distributed.