Deregistration or Terminating a Trust - Attorneys Johannesburg

 

Need Legal Advice?

No Matter What Your Bind We Can Help You


 


 

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]Estate Administration Process in South Africa: A Step-by-Step Guide

The process of winding up a deceased estate in South Africa can be complex and time-consuming, but it is crucial to ensure that the deceased's assets are distributed according to the law and their wishes.

Read More ...
Posted by Cor van Deventer on Friday, September 27, 2024 Views: 194


[Title]Your Guide to Winding Up Estates in South Africa

The winding up of an estate after a loved one's death is a delicate process that requires meticulous attention to detail and adherence to legal procedures.

Read More ...
Posted by Cor van Deventer on Thursday, May 9, 2024 Views: 1467


[Title]When Dealing with Trusts Goes Wrong

When dealing with trusts, a recent case sheds light on the intricacies and legal principles involved.

Read More ...
Posted by Cor van Deventer on Monday, November 27, 2023 Views: 646