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| Home > Business Law > Trust Law |
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| Discharge Of A Trustee |
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The office of a trustee is vacated by his death or by his discharge under the provisions of the Indian Trusts Act, which envisages following six modesof discharge for a trustee.
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by extinction of the trust
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by the completion of duties under the trust
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by such means as may be prescribed by the instrument of trust
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by appointment of a new trustee in his place
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by consent of himself and all the beneficiaries provided the beneficiaries are of the age of majority and have sound mind and are not disqualified under any law
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by the court by filing a petition for discharge.
A trustee can apply to a principal civil court of original jurisdiction for seeking discharge from his office. If the court finds that there are sufficient reason for such discharge, it may discharge him accordingly. Insuch a case, the cost of litigation is paid out of the trust property. But if there is no sufficient reason, the court cannot discharge such a trustee unless a proper person can be found to take his place. |
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