Although the bank holds legal title, the buyers become trust beneficiaries and control the property.

The movement partly reflects the increasing number of trust beneficiaries.

Unless the trust beneficiary can show that this is not so, the alienee has acquired an unassailable title.

A more practical way of securing the interests of trust beneficiaries against alienation by the trustee was needed.

As part of the duty of loyalty, trustees also have a duty to act impartially with respect to trust beneficiaries.

As a trust beneficiary you must declare any trust income you receive or are entitled to on your personal tax return.

The trust beneficiary would file a tax return as if they earned the trust income.

The trust beneficiary would use their personal exemptions and tax credits to reduce their taxable income.

If you are a trustee you have an obligation to the trust beneficiaries.

But we ought to be able to produce basic records of deed, leases, income amount for any trust beneficiary.