ABSTRACT
The beneficiaries (as the owners of the equitable interest) are given the power to compel the due administration of the trust. They are entitled to sue the trustees and any third party for damages (joining the trustees in the proceedings as co-defendants). In addition, the beneficiaries may trace the trust property in the hands of third parties with the exception of bona fide transferees of the legal estate for value without notice. The beneficiaries are given an interest in the trust property (ie, a proprietary interest) and are entitled to assign the whole or part of such interest to others. The beneficiaries are entitled to terminate the trust by directing the trustees to transfer the legal title to them, provided that they have attained the age of majority and are compos mentis and absolutely entitled to the trust property: see Saunders v Vautier (1841) 4 Beav 115, Chapter 20 below.
