ABSTRACT
Tracing is a right or claim available to a beneficiary of a trust or to anyone to whom a fiduciary obligation is owed; it allows a claimant to follow property into the hands of third parties who have received it, or trace it into whatever different form it has taken by way of exchange or otherwise. So long as property can be traced, it is capable of remaining the property of a trust. Hence, tracing is simply the process of allowing a primary beneficiary to follow misused trust property through various subsequent owners in order to regain it (Re Diplock (1948)).
