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| Home > Business Law > Trust |
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| Trust Property |
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The subject matter of the trust is called trust property. Any property, which can be transferred to the beneficiary, can be subject matter of the trust. But a mere beneficial interest under a subsisting trust cannot be the subject matter of a trust.
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Certain other properties also cannot form subject matter of a trust. Someof these are as follows.
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Chance of receiving property such as chance of a relation to obtain legacy on death of a kinsman or chance of an heir apparent to succeed to anestate.
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Mere right to sue.
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Public office or the salary of a public officer whether after or before it has became payable.
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An interest in property restricted in its enjoyment to the owner personally.
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Stipends allowed to military, naval, airforce and civil pensioner's of state or political pensions. |
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