Deregistration or Terminating a Trust - Attorneys Johannesburg

 

Deregistration or Terminating a Trust

How to deregister or terminate a trust

The Trust Property Control Act does not allow for the deregistration of trusts, as this is an internal administrative action to facilitate the management of trust files in the Master's office.

However, the common law makes provision for the termination of a trust, but only in the following circumstances:

  • by statute
  • fulfilment of the object of the trust
  • failure of the beneficiary
  • renunciation or repudiation by the beneficiary
  • destruction of the trust property
  • the operation of a resolutive condition

If the trust can be terminated on one of the above grounds, the Master will deregister that trust.

Termination of a Trust

For the termination of a trust, the following documents are required:

  • The original letter of authority.
  • Bank statements reflecting a nil balance on the final statement.
  • Proof that the beneficiaries have received their benefits 

Upon receipt of the above documents, the Master will deregister a trust which has been terminated. Please note that the above documents must be lodged with the Master with whom the Trust has been registered.

Van Deventer & Van Deventer Incorporated - Trust Attorneys Pretoria

Please contact Van Deventer & Van Deventer Incorporated for assistance with de-registration or termination of a trust.

[Title]How do you Transfer a Deceased Interest in a Close Corporation?

We often get inquiries from some of our clients with regards to how the process of transferring the interest of a deceased relative who, was a member of a Close Corporation (CC). We value such inquiries in that it is indicative of the appreciation that our valued clients have for the law, and at the same time giving us an opportunity to provide expert legal assistance.

Read More ...
Posted by Cor van Deventer on Monday, May 24, 2021 Views: 308


[Title]Deceased Estate - Under What Circumstances can an Executor be Removed?

It must be noted that it is not enough to remove an Executor merely because of disagreements between the Executor and other interested parties, but a high standard of undesirability or wrongdoing on the part of the Executor need to be satisfied first.

Read More ...
Posted by Cor van Deventer on Thursday, May 20, 2021 Views: 865


[Title]When the Property Transfer is from a Deceased Estate – Things to Note

It happens most often that some properties are transferred and sold from a deceased estate, with the purchaser having to transact with the heir or the executor of the deceased estate. In other instances, there is no sale involved, but that the property must be transferred from the deceased estate to the heir who is entitled to inherit such property.

Read More ...
Posted by Cor van Deventer on Monday, April 19, 2021 Views: 378


CloseCOVID-19 Corona Virus South African Resource Portal