n Without Prejudice - Pitfalls : property law
|Article Title||Pitfalls : property law|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Affiliations||1 Cliffe Dekker Hofmeyr|
|Publication Date||Oct 2011|
|Pages||42 - 43|
When dealing with a trust, it is important first to understand its nature, as explained by Cameron JA in Land and Agricultural Bank of South Africa v Parker and Others 2005 (2) SA 77 (SCA) (the Parker case): "Except where statute provides otherwise, a trust is not a legal person. It is an accumulation of assets and liabilities. These constitute the trust estate, which is a separate entity. But though separate, the accumulation of rights and obligations comprising the trust estate does not have legal personality. It vests in the trustees and must be administered by them - and it is only through the trustees, specified as in the trust instrument, that the trust can act. Who the trustees are, their number, how they are appointed and under what circumstances they have power to bind the trust estate are matters defined in the trust deed, which is the trust's constitutive charter. Outside its provisions the trust estate cannot be bound."
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