Legal estate to pass to new trustees without conveyance
10 Legal estate to pass to new trustees without conveyance
On the insertion and authentication as aforesaid in the said register of trustees of the name or names of any new trustee or trustees of any such lands not under the operation of the Land Title Act 1994, held subject to this Act, the estate in such lands of the trustee or trustees in whose place such new trustee or trustees shall be appointed shall forthwith vest in such new trustee or trustees solely or jointly, as the case may be, with the old continuing trustee or trustees (if any) for the same estate and interest as the former trustee or trustees had therein, and subject to the same trusts, without any conveyance or assignment whatsoever.
On the insertion and authentication as aforesaid in the said register of trustees of the name or names of any new trustee or trustees of lands under the operation of the Land Title Act 1994 held as aforesaid, such new trustee or trustees, together with the former or continuing trustees (if any), shall be deemed the proprietor or proprietors thereof within the meaning of the Land Title Act 1994 as if the name or names of such new trustee or trustees appeared or was or were entered as such proprietor or proprietors in the register book kept under the Land Title Act 1994, and as if a certificate of title had been duly issued to the proprietor or proprietors, solely or jointly, as the case may be, with the former continuing proprietor or proprietors (if any) for all the same estate and interest as the former proprietor or proprietors had therein, and subject to the same trusts, without any transfer being made for the purpose.
Moreover, as to the lands under the operation of the Land Title Act 1994, the trustees for the time being thereof registered aforesaid in the said register of trustees shall be deemed the proprietors thereof within the meaning of the Act as if the names of such trustees appeared or were entered as such proprietors in such register book, and as if certificates of title had been duly issued to them, but subject to this Act, and to any then subsisting mortgage, lien, encumbrance, or lease.
The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.