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Chapter
Breach of trust
DOI link for Breach of trust
Breach of trust book
Breach of trust
DOI link for Breach of trust
Breach of trust book
ABSTRACT
Trustees play an essential role in the administration of a trust. There are a number of occasions that create a need to appoint trustees. In addition, there are both statutory and common law provisions to facilitate the retirement and removal of trustees during the continuance of the trust. Trustees are regarded as occupying a fi duciary position and are required to comply with a number of duties in order to maintain the proper administration of the trust. By the same token, trustees are vested with additional powers in order to facilitate their dealings with the trust property. Where the trustees neglect their duties or misconduct themselves in exercising their powers, they may become liable to the benefi ciaries for breach of trust. In exceptional circumstances, the trustees may be relieved from liability by reference to a clause contained in the trust instrument or by relying on a statutory provision. Finally, the benefi ciaries may use personal or proprietary remedies against the trustees or defaulting third parties in order to alleviate their losses.