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.

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