GUARDIANSHIP OF ADULTS ACT 2016 - SECT 29 Property to be managed as if trust property

GUARDIANSHIP OF ADULTS ACT 2016 - SECT 29

    (1)     A guardian who has authority for financial matters:

        (a)     must deal with the represented adult's property as if it were trust property held by the guardian on trust for the represented adult; and

        (b)     in dealing with the property, is subject to the duties, obligations and limitations that apply under a law of the Territory to a trustee dealing with trust property.

Note for subsection (1)

This subsection does not constitute a trust or cause the property to vest in the guardian .

    (2)     However, the guardian may deal with property otherwise than in accordance with subsection (1) if:

        (a)     permitted to do so by a provision of this Act; or

        (b)     authorised by the Tribunal to do so:

            (i)     in the guardianship order; or

            (ii)     by order under section 33(2)(c).

    (3)     Subsection (1) does not prevent the continuation of joint ownership of property by the represented adult and the guardian (whether as joint tenants or tenants in common) if the joint ownership commenced:

        (a)     before the guardian was appointed; or

        (b)     after the appointment but while the represented adult had decision-making capacity for the matter.

    (4)     Despite subsection (1)(b), section 24A of the Trustee Act 1969 does not apply in relation to property that is being dealt with under this section as if it were trust property.