Draft Common Frame of Reference:X. — 4:201 Avoidance by the truster

Draft Common Frame of Reference

X. — 4:201 Avoidance by the truster

Geldend

Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.

Without prejudice to other necessary adaptations, Book II Chapter 7 (Grounds of invalidity) is modified as follows in its application to trusts constituted gratuitously in the truster's lifetime:

(a)

the truster may avoid the trust or a trust term if the trust was constituted or the term included because of a mistake of fact or law, regardless of whether the requirements of II. — 7:201 (Mistake) paragraph (1)(b) are satisfied;

(b)

a truster who was dependent on, or was the more vulnerable party in a relationship of trust with, a beneficiary may avoid the trust or a trust term in so far as it provides for benefit to that beneficiary unless that beneficiary proves that the beneficiary did not exploit the truster's situation by taking an excessive benefit or grossly unfair advantage;

(c)

the reasonable time for giving notice of avoidance (II. — 7:210 (Time)) does not commence so long as:

(i)

the truster exercises an exclusive right to benefit from the income; or

(ii)

the trust fund consists of one or more rights to benefit which are not yet due; and

(d)

where sub-paragraph (c)(i) applies, acceptance of benefit is not to be regarded as an implied confirmation of the trust.

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