Indian Trusts Act : Trustee to inform himself of state of trust-property Indian Bare Acts :

Indian Trusts Act,1882

Act No : 2

Section : Trustee to inform himself of state of trust-property

12. Trustee to inform himself of state of trust-property.-Atrustee is bound to acquaint himself, as soon as possible, with thenature and circumstances of the trust-property; to obtain, wherenecessary, a transfer of the trust-property to himself; and (subjectto the provisions of the instrument of trust) to get in trust-moneysinvested on insufficient or hazardous security. Illustrations (a) The trust-property is a debt outstanding on personalsecurity. The instrument of trust gives the trustee no discretionarypower to leave the debt24so outstanding. The trustee's duty is to recover the debt withoutunnecessary delay. (b) The trust-property is money in the hands of one of two co-trustees. No discretionary power is given by the instrument of trust.The other co-trustee must not allow the former to retain the money fora longer period than the circumstances of the case required.