6th sem cpc notes for 6th semester students samjhe. Padhlo bhai
Vesting Of Trust Property
1. Chapter2: VestingOf TrustProperty
Sect44(1)
Vestingof trustpropertyinthe newtrustees. The legal title to the trustpropertyoughttobe vested
inthe trustee.The methodof vestingvaries withthe nature of the trustproperty.
1. Land
Be registered inthe name of the trustee according tothe provisionsof the NLC1965.
2. Sharesof accompany
Registeringtheminhisname accordingtothe provisionsof CompanyLaw.The trustees
mustfill outthe share transferformsand togetherwiththe share certificates,sendthem to
the concernedcompanyforre registration.
3. Bank balance
Bank bookhas to be inthe name of the trustees.