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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 thetrust. But a mere beneficial interest under a subsisting trust cannot
bethe subject matter of a trust.
Certain other properties also
cannot form subject matter of a trust. Someof these are as follows: a) Chance
of receiving property such as chance of a relation to obtainlegacy on death of
a kinsman or chance of an heir apparent to succeed to anestate. b) Mere right
to sue. c) Public office or the salary of a public officer whether after or
beforeit has became payable. d) An interest in property restricted in its enjoyment
to the ownerpersonally. e) Stipends allowed to military, naval, airforce and
civil pensioner's ofstate or political pensions.
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