Official Trustees Act : Transfer of trust property by Official Trustee to original trustee or any other

Official Trustees Act,1913

Act No : 2

Section : Transfer of trust property by Official Trustee to original trustee or any other trustee

29. Transfer of trust property by Official Trustee to original trustee or any other trustee.-(1) Nothing in this Act shall be deemedto prevent the transfer by the Official Trustee of any property vestedin him to-- (a) the original trustee (if any); or (b) any other lawfully appointed trustee; or (c) any other person if the Court so directs. (2) Upon such transfer such property shall vest in such trustee,and shall be held by him upon the same trusts as those upon which itwas held prior to such transfer, and the Official Trustee shall beexempt from all liability as trustee of such property except inrespect of acts done before such transfer: Provided that, in the case of any transfer under this section,the Official Trustee shall be entitled to retain out of the propertyany fees leviable in accordance with the provisions of this Act.