TRUSTEE ACT 1925 - SECT 101 Property vested in the NSW Trustee
TRUSTEE ACT 1925 - SECT 101
Property vested in the NSW Trustee101 Property vested in the NSW Trustee
Where any new trustee is appointed under or in pursuance of the powers conferred by any instrument creating a trust, or by this or any other Act, all the property which for the time being is vested in the NSW Trustee by virtue of the Probate and Administration Act 1898 and is subject to the trust in respect of which the new trustee is appointed, shall, on registration of the order or deed appointing the new trustee, and without other assurance in the law, become and be legally and effectually vested in the new trustee either solely or jointly with any surviving or continuing trustee, as the case may require.