Trustee capacity: persons capable of holding property may be trustees, acceptance requires clear acts or words. A person capable of holding property may be a trustee, but if the trust involves discretion the trustee must be competent to contract. No one is bound to accept a trust; acceptance arises from words or acts indicating assent. An intended trustee may disclaim a trust within a reasonable period, preventing vesting; a disclaimer by one of several co-trustees vests the trust-property in the others, who become sole trustee(s) from the trust's creation.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Trustee capacity: persons capable of holding property may be trustees, acceptance requires clear acts or words.
A person capable of holding property may be a trustee, but if the trust involves discretion the trustee must be competent to contract. No one is bound to accept a trust; acceptance arises from words or acts indicating assent. An intended trustee may disclaim a trust within a reasonable period, preventing vesting; a disclaimer by one of several co-trustees vests the trust-property in the others, who become sole trustee(s) from the trust's creation.
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