By Madeleine Pretorius TRUSTS
In South Africa, trusts are governed by the Trust Property Control Act, 57 of 1988 (“the Act”) and are registered by the Master of the High Court. The trust division of the Master’s office maintains a trust file and controls any queries in reference to trusts.
A trust is a legal entity consisting of a donor/founder, trustees and beneficiaries. Assets are transferred from the donor/founder to the trustees, in their capacity as such, who control the assets for the benefit of the beneficiaries. Beneficiaries of a trust are usually natural persons, but may also be a juristic person, …read more
Source:: What you need to know about trusts