40 Vesting of trust property in new or continuing trustees
Trustee Act 1925 (1925 c 19) | Legislation

40  Vesting of trust property in new or continuing trustees

(1)     Where by a deed a new trustee is appointed to perform any trust, then—

(a)     if the deed contains a declaration by the appointor to the effect that any estate or interest in any land subject to the trust, or in any chattel so subject, or right to recover or receive any debt or other thing in action so subject, shall vest in the persons who by virtue of the deed become or are the trustees for performing the trust, the deed shall operate, without any conveyance or assignment, to vest in those persons as joint tenants and for the purposes of the trust the estate interest or right to which the declaration relates; and

(b)     if the deed is made after the commencement of this Act and does not contain such a declaration, the deed shall, subject to any express provision to the contrary therein contained, operate as if it had contained such

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