§ 166 — Trusts

166.—(1) A person named in an instrument as acquiring registered land in a fiduciary capacity may be described in that capacity and the instrument may disclose brief particulars of the trust relating to the consideration paid and for providing that the person named assumes liability only to the extent of an estate or interest of which the person is a trustee.(2) The Registrar must not enter particulars of the trust except that he or she may describe the person having fiduciary capacity as a trustee in a folio or the relevant instrument but the description of a person as trustee in the folio or the instrument does not affect the operation of section 47.

(3) Subject to the provisions of any caveat affecting the land, a registered proprietor of an estate or interest who is a trustee holds the estate or interest on trust for the persons and purposes to which it is applicable by virtue of the instrument creating the trust.

(4) Any purchaser dealing with the registered land which is held in a fiduciary capacity need not be concerned to enquire whether a dealing of that land is within the powers of the registered proprietor and the purchaser is entitled to assume that the registered proprietor has all the powers of disposition of a beneficial owner and as the absolute proprietor of the estate or interest in question.

—(1) A person named in an instrument as acquiring registered land in a fiduciary capacity may be described in that capacity and the instrument may disclose brief particulars of the trust relating to the consideration paid and for providing that the person named assumes liability only to the extent of an estate or interest of which the person is a trustee.

(2) The Registrar must not enter particulars of the trust except that he or she may describe the person having fiduciary capacity as a trustee in a folio or the relevant instrument but the description of a person as trustee in the folio or the instrument does not affect the operation of section 47.

(3) Subject to the provisions of any caveat affecting the land, a registered proprietor of an estate or interest who is a trustee holds the estate or interest on trust for the persons and purposes to which it is applicable by virtue of the instrument creating the trust.

(4) Any purchaser dealing with the registered land which is held in a fiduciary capacity need not be concerned to enquire whether a dealing of that land is within the powers of the registered proprietor and the purchaser is entitled to assume that the registered proprietor has all the powers of disposition of a beneficial owner and as the absolute proprietor of the estate or interest in question.