LPL4805 PORTFOLIO MEMO - MAY/JUNE 2023 - SEMESTER 1 - UNISA - (DETAILED ANSWERS - DISTINCTION GUARANTEED!)
Question 1.
1.1.1. Distinguish between an inter vivos trust and mortis causa trust
(10)
1.1.2. The founder of a trust, together with the trustee has just executed a deed of trust before ...
question 1 111 distinguish between an inter vivos trust and mortis causa trust 10 112 the founder of a trust
together with the trustee has just executed a deed of trust before you
a notary
Written for
University of South Africa (Unisa)
LPL4805 - Notarial Practice
All documents for this subject (56)
Seller
Follow
LLBExampacksAndTutorials
Reviews received
Content preview
Tutors you can trust. Voted “BEST
SELLING” memos for the year 2021/2022.
LPL4805
Notarial Practice
PORTFOLIO MEMO
SEMESTER 1 - 2023
UNIQUE NUMBER: -
Due Date: - 26th MAY 2023
Includes Footnotes and/or Bibliography
QUESTION PREVIEW
FULLY REFERENCED WITH
FOOTNOTES & A BIBLIOGRAPHY
WORD DOCUMENT AVAILABLE!
DISTINCTION GUARANTEED!!!
Disclaimer
Extreme care has been used by our Tutors to draft this document, however the contents are provided “as is” without any representations
or warranties, express or implied. This document is to be used for comparison, research and reference purposes ONLY. No part of this
document may be reproduced, resold or transmitted in any form or by any means without prior written permission from the Author. –
LLB EXAMPACKS & TUTORIALS.
, Question 1.
1.1.1. Distinguish between an inter vivos trust and mortis causa trust
(10)
An inter vivos trust: The founder of a trust may create a trust during his or her lifetime (1)
in terms of which he or she transfers assets (1) during his or her lifetime to a trustee to
control (1) and administer in favour of the beneficiary (1). The trust is established when
the founder and the trustee conclude the agreement, or at such later time that they may
determine (1). An inter vivos trust may also be created in an antenuptial contract (1).
A mortis causa trust: Such a trust may be created in terms of a provision in a will (1), and
comes into operation on the death of the testator (the founder) (1). A testamentary trust
may also be embodied in an antenuptial contract (1).
[See study unit 6.]
1.1.2. The founder of a trust, together with the trustee has just executed a deed of
trust before you, a notary. Indicate the key requirement that the trustee must be in
order qualify to act as such.
(1)
Answer:
The trustee must accept his or her nomination as trustee (1).
The original trust deed or a certified copy thereof, under cover of the prescribed covering
letter (1) and against payment of the prescribed fee (1) and the furnishing of security, if
required (1), must be lodged for registration with the Master of the High Court who has
jurisdiction (1). The Master must issue letters of authority (1).
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller LLBExampacksAndTutorials. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $16.56. You're not tied to anything after your purchase.
