When dealing with trusts, a recent case sheds light on the intricacies and legal principles involved. In Shepstone & Wylie Attorneys v Abraham Johannes de Witt NO And Others, the Supreme Court of Appeal affirmed the court's decision, highlighting crucial aspects of trust law that warrant attention.
The Penvaan Property Trust found itself entangled in legal complexities when it ratified a resolution to act as surety for the indebtedness of Mrs. Volker. The resolution, however, was endorsed by only two of the three trustees, including Mrs. Volker. Subsequently, the trust faced legal action as the surety for outstanding legal fees, asserting that the resolution lacked validity due to not being signed by all trustees. The case raised questions about conflicting clauses in the trust deed, notably regarding decision-making quorums.
Conclusion: The Supreme Court of Appeal upheld the decision, reinforcing the importance of strict adherence to trust principles and legal requirements. The case serves as a reminder that understanding trust laws and seeking legal advice is imperative when dealing with trust affairs.
For comprehensive legal services related to trusts, including setup, trust deed drafting, and dispute litigation, Van Deventer & Van Deventer Inc. is here to assist. Explore our interactive website for a detailed overview of our services, and feel free to contact us for professional legal guidance.
The information contained in this site is for informational purposes only, and should not be construed as legal advice on any subject matter. One should not act nor refrain from acting based on any content included in this site without seeking legal or other professional advice. The contents of this site contain general information which may not reflect current legal developments or address one’s situation. We disclaim all liability for actions one may take or fail to take based on any content on this site.
Subscribe to our Newsletter
Estate Agent Training
Bond & Transfer Calculator
Get the latest updates in your email box automatically.