1887

n Stellenbosch Law Review = Stellenbosch Regstydskrif - The fiduciary office of trustee and the protection of contingent trust beneficiaries

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Abstract

In terms of the arrangement constitutive of a trust in the narrow sense as defined in section 1 of the Trust Property Control Act, the ownership in property is made over or bequeathed to either the trustee (the ownership trust) or the trust beneficiaries with the trustee assuming control over the property (the trust). Under both the ownership trust and the trust, the trustee, in terms of the aforementioned definition, is the pivotal functionary who is responsible for the administration or disposal of property according to the provisions of the trust instrument. Such administration or disposal does not occur for the trustee's own benefit, but for the benefit of the person or class of persons designated in the trust instrument, or for the achievement of the object stated in the trust instrument. The definition of "trust" in section 1 of the Act gives legislative expression to what Cameron JA in called the "core idea" of the trust, namely the functional separation of the trustee's ownership (or control) over trust property from the enjoyment derived from such ownership (or control) through the bestowal of trust benefits on the trust's beneficiaries or through the achievement of the trust's object.

Hierdie bydrae ondersoek die fidusiêre amp van trustee met spesifieke fokus op die aard en omvang van 'n trustee se algemene fidusiêre plig ten opsigte van trustadministrasie in belang van trustbegunstigdes. Daar word geargumenteer dat 'n trustee se algemene fidusiêre plig wesenlik 'n saamgestelde plig is wat uit 'n viertal spesifieke trustee-pligte bestaan. Daar word verder geargumenteer dat 'n trustee se fidusiêre plig 'n ooreenstemmende persoonlike reg tot behoorlike trustadministrasie aan trustbegunstigdes besorg, welke persoonlike reg ook begunstigdes toekom wat geen gevestigde regte nie, maar bloot voorwaardelike regte op trustvoordele geniet. Daar word voorts getoon dat die beskerming wat sodanige voorwaardelike trustbegunstigdes langs die weg van erkende regsremedies geniet, hoofsaaklik geskoei word op hul gevestigde belang in behoorlike trustadministrasie soos deur voorgenoemde persoonlike reg vergestalt. Tog is die remedies van trustbegunstigdes met voorwaardelike regte op trustvoordele teen trustees en derde partye relatief beperk en die vraag word aangespreek of die vernaamste begunstigde-remedie teen 'n trustee wat trustbreuk gepleeg het, naamlik die vir die verhaal van vermoënskade, nie, soos sommige kommentatore voorstel, tot sodanige begunstigdes uitgebrei kan word nie.

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/content/ju_slr/18/3/EJC54639
2007-01-01
2016-12-08
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