Found inside – Page 150trustee , who is entrusted to sell and manage for others , undertakes in the same ... a purported sale of the trust property by the trustee to himself ... Found inside – Page 1021... the indenture authorized Mr. Ewing , as trustee , to sell trust property to himself or to any firm or corporation in which he might have an interest . Found inside – Page 247... While the trustee cannot transact in a way which will accord any direct benefit to himself, it may be possible for the trustee to sell trust property to ... Found insideExceptions exist whereby the trustee may sell trust property to himself if the trust deed expressly authorises it, if a court order permits it or if all of ... Found inside – Page 338In the former situation, a trustee purchases trust property for himself or sells his property to the trust, and this renders the transaction voidable at the ... Found insideThus, for example, if a trustee purchases the trust property for himself, ... property has changed in value.84 Rescission will result in the property being ... Found inside – Page 24781078. 4. The Duty not to Sell Trust Property to Himself nor to Buy from Himself . — This particular duty has already been fully discussed . It has been shown that where a trustee deals directly with his beneficiary by way of purchase or sale , the ... Found inside – Page 203In fact in that case the trustee bought the trust property with the consent of ... Walker it was held that where a trustee sold trust property to himself at ... Found inside – Page 82A trustee with power to sell trust property is under a duty not to sell to himself either by private sale or at auction , whether ... It is his duty as trustee to prevent the sale if possible or to see that the property is sold for as much as can be obtained . Found inside – Page 171Thus , securities from the trust company , and as ordinarily a trust company can properly trustee sell securities held as ... an unwarranted commin self individually , or as trustee to purchase gling of trust funds . property from himself individually ... Found inside – Page 308A trustee cannot grant or sell trust property to himself under the ... and if he does so it will be voidable at the instance of the beneficiaries. Found inside – Page 351First, a trustee may not purchase trust property (or sell property to a trust). Secondly, he must not set himself up in competition with the trust. Found inside – Page 485318 Sales and purchases for trustee's own account. The trustee—whether an individual or an institution—must not sell trust property to himself personally ... Found inside – Page 381SECTION 2: CONFLICTS A trustee must not grant or sell any trust property to himself (this is the rule against self-dealing) and if he purchases an equitable ... Found inside – Page 1021Further , the indenture authorized Mr. Ewing , as trustee , to sell trust property to himself or to any firm or corporation in ... Found inside – Page 450As trustee , the settlor can invest , buy , and sell the trust property , distribute the income from the trust to himself or to whomever the settlor chooses ... Found inside – Page 183Trustee purchasing trust property The 'rule against self-dealing' is that where a trustee purchases the trust property from himself, the purchase may be set ... Found inside – Page 397Subsequent repurchase by trustee without collusion However , the fact that a trustee has sold trust property in the hope , subsequently realised , of being able to repurchase it for himself at a future time , is not of itself a sufficient ground for setting ... Application of the rule to other fiduciary persons The general rule that a purchase by a trustee can be set aside applies to all persons in a fiduciary position ... Found inside – Page 331Therefore , where the trustee sold the trust lands to one of his own ... and if he had taken a re - conveyance of the land to himself , he would have held ... Found inside – Page 486§6.1.3.3 Trustee Benefiting as Buyer and Seller When a trust company buys for ... not sell trust property to himself personally,317 sell his own property to ... Found inside – Page 1543A sale made as required by this section is valid , and the fact that the trustee sold only half of the land will not be presumed to be an abuse of ... It is the duty of a trustee in a deed of trust to secure a debt not to sell more of the trust subject than is necessary to satisfy the trust ... Notwithstanding a trustee sold property to himself under a power in the trust deed , which act was constructively fraudulent , he is ... Found inside – Page 78Certainly , a trustee should never sell trust assets to himself or herself at a bargain price , because the beneficiaries could hold the ... If the sale is improper , a trustee can be held personally responsible to the beneficiaries for any loss incurred . Found inside – Page 325With regard to such purchases from themselves ( as distinguished from purchases from their beneficiaries ) , the ... Consequently , under no circumstances can an active trustee , nor , indeed , & passive trustee who has been an active ... It must also be observed that the fact that a trustee bas sold trust property in the hope , subsequently realized , of ( 6 ) Per Lord Eldon in Ex parte James , 8 V. 337 , at p . Found inside – Page 291For example, the Restatement (Second) of Trusts provides that: by the terms of the trust the trustee maybe permitted to sell trust property to himself ... Found inside – Page 335A trustee must not grant or sell any trust property to himself (this is the rule against self-dealing) and if he purchases an equitable interest from a ... Found insideSelf-dealing by the trustee is but one type of conflict of interest.22 For example, a trustee may not sell or lease trust property to himself or herself as ... Found inside – Page 247... While the trustee cannot transact in a way which will accord any direct benefit to himself, it may be possible for the trustee to sell trust property to ... Found inside – Page 815A trust otherwise created can be revoked only , ( a ) where all the ... a trustee , is simply authorised to sell certain land by public auction . Found inside – Page 104If a trustee for an infant wish to purchase the trust estate , he can do this ... the trustee sell to become is , that , no man shall sell to himself . Found inside – Page 522tee , who , availing himself of his power as such , purchases the trust - property for himself : a trust arises in such case in favor of the ... had it fraudulently made to himself , he was held to be a trustee for the soldier.2 So where an administrator , by license of court , sold land of ... The law will not allow a man who stands in a fiduciary relation to an estate to become the owner of the same , directly or indirectly ... Found inside – Page 864Similarly, if the trustee wishes to sell part of the trust property he may be tempted to sell it to himself at an undervalue. In his capacity as trustee his ... Found inside – Page 1015Trustee having engaged trust - property in an adventure , cannot sell either to himself or another . Trustee having engaged trust property in an adventure ... Found inside – Page 122A fiduciary cannot make a bargain with himself in regard to his trust property , and therefore he should not be allowed to transfer the stock to himself . ... Even though the trustee has himself power to sell , he must exercise his own discretion as to the occasion when it is proper to sell . ... as it is his duty to reduce the estate to cash he has implied power to sell ; it does not have to be given to him in the will . This book is designed for use as a supplementary text for a course on wills and trusts and the primary text in a seminar or course exploring the law of trusts. Found inside – Page 566We are of opinion , therefore , that our former conclusions in this case are correct , and the rehearing will be refused . ... A trustee , with power to sell , cannot sell the trust property to himself , so as to divest the cestui que trust of title ; and in an ... Found inside – Page 494§6.1.3.3 Trustee Benefiting as Buyer and Seller When a trust company buys for ... not sell trust property to himself personally,317 sell his own property to ... Found inside – Page 253the funds which he borrows earmarked as trust property ; but as has been said , he will rarely have power given him ... a trustee is by a deed or will given power to sell and he asks the corporation to make a transfer of the stock to himself . Found inside – Page 174The distinction between the rule that a trustee is absolutely incapacitated from purchasing trust property from himself even though the sale is otherwise perfectly fair , and the rule that a trustee can purchase trust property with the consent of the beneficiaries if he acts fairly , was not ... It was held that the trustee , having subsequently sold the property at a profit , was accountable to the beneficiary therefor . Found inside – Page 83If a trustee attempts to purchase trust property for himself, ... power of sale does not authorise the trustee to sell the trust property except to someone ... Found inside – Page 224money on trust securities but to use the money borrowed as part of his own assets ; that is , to put it in his own general ... a trustee is by a deed or will given power to sell and he asks the corporation to make a transfer of the stock to himself . Found inside – Page 76237 , N. S. unless “ he can show " to demonstration that no industry he ... A trustee to sell cannot purchase the trust property for himself , Whelpdale v . Found inside – Page 498318 Sales and purchases for trustee's own account. The trustee—whether an individual or an institution—must not sell trust property to himself personally ... Found inside – Page 369Further , the indenture authorized Mr. Ewing , as trustee , to sell trust property to himself or to any firm or corporation in which he might have an ... Found inside – Page 515Further , the indenture authorized Mr. Ewing , as trustee , to sell trust property to himself or to any firm or corporation in which he might have an ... Found inside – Page 4If trustees are professionals , they will be held to higher standards than lay persons , and they will generally be held to the ... The duty of loyalty would be violated if the trustee sold trust assets to himself or herself as an individual , even if they ... Found inside – Page 515Further , the indenture authorized Mr. Ewing , as trustee , to sell trust property to himself or to any firm or corporation in ... Found inside – Page 18147 And a breach of trust may be formally released by the cestui.48 After the lapse of time , the cestui will be presumed in ... to sell trust property to reimburse himself.74 And if a trustee is incompetent to purchase for himself , he cannot purchase ... Found inside – Page 156A trustee can only lawfully sell trust property to someone with whom he has ... to sell an item of property which he personally possesses and owns himself, ... Found inside... the trustee can show that no advantage has been taken.... [T]he 'self-dealing rule' is that the sale by the trustee of the trust property to himself is ... Found inside – Page 1029A power in a trustee to sell trust proplands , and to pay therefrom interest due on perty , and change investments , gives ... If trustees under a will convey trust vided , that , in case default should be made in property to themselves through a third ...
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