Power of Official Trustee to make inventory of trust properties and to hold and manage the same till distribution among the persons rightfully entitled thereto

Civil195914 sections

Statutory text

(1) As soon as may be after the commencement of this Act, the Official Trustee shall take possession or charge of the trust properties and make an inventory thereof and hold the trust properties upon trust to distribute the same amongst the persons rightfully, entitled thereto according to law, and until such distribution to manage the said trust properties, in accordance with the provisions of this Act.
(2) All costs, charges and expenses for and incidental to, the management of the trust properties (including any fees by way of percentage or otherwise which the State Government may direct, shall be paid to the Official Trustee for the performance of his functions under this Act) and for and incidental to any action taken by the Official Trustee under sub-section (1), shall be met out of the trust properties and the proceeds thereof.

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