Trustee Act 1936 (SA)

South Australia

Trustee Act 1936

An Act relating to trustees, and for other purposes.

The Parliament of South Australia enacts as follows:

This Act may be cited as the Trustee Act 1936.

1. (1)

   In this Act (except in Part 5), unless the context otherwise requires—

contingent right, as applied to land, includes a contingent or executory interest, a possibility coupled with an interest, whether the object of the gift or limitation of the interest or possibility is or is not ascertained; also a right of entry, whether immediate or future, and whether vested or contingent;

convey and conveyance applied to any person include the execution by that person of every necessary or suitable transfer or assurance for conveying, assigning, appointing, surrendering, or otherwise transferring, or disposing of land to which he is entitled or of which he is seised or possessed, or wherein he is entitled to a contingent right, either for his whole estate or for any less estate, together with the performance of all formalities or acts required by law under the Real Property Act 1886 or otherwise for the validity or completion of the conveyance, including any acts to be performed by married women and tenants in tail for perfect conveyance and assurance under the Acts for, the time being in force in that behalf;

equity of redemption includes—

1. (a)

   the right to redeem property which has been conveyed or assigned by way of mortgage:

2. (b)

   the estate of the owner of any property which is subject to any legal or equitable mortgage, charge or encumbrance (including a mortgage or encumbrance under the Real Property Act 1886) created otherwise than by conveyance or assignment of the property;

instrument includes Act of Parliament;

land includes incorporeal as well as corporeal hereditaments, and any estate or interest therein, and also an undivided share of land;

lunatic means any person who has been found to be a lunatic upon inquiry by the Supreme Court, or upon a commission or inquiry issuing out of the Supreme Court in the nature of a writ of de lunatico inquirendo;

mortgage and mortgagee include every estate and interest regarded in equity as merely a security for money, and every person deriving title under the original mortgagee;

pay and payment, as applied in relation to stocks and securities, and in connection with the expression into court, include the deposit or transfer of the same in or into court;

person of unsound mind means any person, not an infant who, not having been found to be a lunatic, is incapable from infirmity of mind of managing his own affairs;

possessed includes being in receipt of income of or having any vested estate less than a life estate, legal or equitable, in possession or in expectancy, in, any land;

property includes real and personal property, and any estate and interest in any property, real or personal, and any debt, and any thing in…