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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.

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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.