Section 344
Registration as trustee or trustees, and deposit of trust instrument
of National Land Code (Revised - 2020)
(1)
Where, by any instrument of dealing or order of the
Court or Land Administrator, any alienated land or share or interest therein is transferred or transmitted to, vested in or created in favour of any person or body “as trustee”, or two or more persons or bodies “as trustees”, the Registrar shall so describe him, it or them in the memorial of registration.
(2)
The proprietor or co-proprietors of any alienated land, and any person or body in whom any share or interest in alienated land is for the time being vested, may apply to the
Registrar to be registered in respect of that land, share or interest “as trustee” or, as the case may be, “as trustees”; and the
Registrar shall give effect to any such application by making the appropriate addition to, or amendment of, the existing memorial of registration.
(3)
Where the words “as trustee” or “as trustees” have been included in any memorial of registration pursuant to subsection (1) or (2), or the corresponding provisions of any previous land law, any instrument declaring the trusts to which the land, share or interest is subject may, upon payment of the prescribed fee, be deposited with the Registrar for safe custody and reference; and no instrument of dealing shall be unfit for registration by reason only of the fact that it refers to any instrument so deposited.
(4)
Subsections (1) and (2) shall have effect subject to the
Trustee Act 1949 [Act 208] (which inter alia provides that, except in the case of any immovable property vested in trustees for charitable, religious or public purposes, the number of trustees of any immovable property shall not exceed four).
348
Act 828