Trustee authority to protect and realise trust assets, with court permission required for long or suboptimal leases. Trustees are empowered to take all acts that are reasonable and proper to realize, protect, or benefit trust property and to protect or support beneficiaries incompetent to contract, subject to the trust instrument and section 17. For leases, trustees must not grant long-term or suboptimal leases without prior permission from a principal civil court of original jurisdiction and must seek to reserve the best yearly rent reasonably obtainable.
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 authority to protect and realise trust assets, with court permission required for long or suboptimal leases.
Trustees are empowered to take all acts that are reasonable and proper to realize, protect, or benefit trust property and to protect or support beneficiaries incompetent to contract, subject to the trust instrument and section 17. For leases, trustees must not grant long-term or suboptimal leases without prior permission from a principal civil court of original jurisdiction and must seek to reserve the best yearly rent reasonably obtainable.
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