Right to title
deed.

31. A trustee is
entitled to have in his possession the instrument of trust and all the
documents of title (if any) relating solely to the trust-property.

Right to reimbursement of expenses.

32. Every trustee may reimburse himself, or pay or discharge
out of the trust-property, all expenses properly incurred in or about the
execution of the trust, or the realization, preservation or benefit of the
trust-property, or the protection or support of the beneficiary.

If he pays such expenses out of his own pocket he has a
first charge upon the trust- property for such expenses and interest thereon;
but such charge (unless the expenses have been incurred with the sanction of a
principal Civil Court of original jurisdiction) shall be enforced only by
prohibiting any disposition of the trust-property without previous payment of
such expenses and interest.

If the trust property fail, the trustee is entitled to
recover from the beneficiary personally on whose behalf he acted, and at whose
request, expressed or implied, he made the payment, the amount of such
expenses.

Right to be recouped
for erroneous over-payment.

Where a trustee has by mistake made an over-payment to the
beneficiary, he may reimburse the trust-property out of the beneficiary's
interest. If such interest fail, the trustee is entitled to recover from the
beneficiary personally the amount of such over-payment.

Right to indemnity from gainer by breach of trust.

33. A person other than a trustee who has gained an
advantage from a breach of trust must indemnify the trustee to the extent of
the amount actually received by such person under the breach; and where he is a
beneficiary the trustee has a charge on his interest for such amount.

Nothing in this
section shall be deemed to entitle a trustee to be indemnified who has, in
committing the breach of trust, been guilty of fraud.

Right to apply to court for opinion in management of
trust-property.

34. Any trustee may, without instituting a suit, apply by
petition to a principal Civil Court of original jurisdiction for its opinion,
advice or direction on any present questions respecting the management or administration
of the trust-property other than questions of detail, difficulty or importance,
not proper in the opinion of the Court for summary disposal.

A copy of such petition shall be served upon, and the
hearing thereof may be attended by, such of the persons interested in the
application as the Court thinks fit.

The trustee stating in good faith the facts in such
petition, and acting upon the opinion, advice or direction given by the Court
shall be deemed, so far as regards his own responsibility, to have discharged
his duty as such trustee in the subject-matter of the application.

The costs of
every application under this section shall be in the discretion of the Court to
which it is made.

Right to settlement of accounts.

35. When the duties of a trustee, as such, are completed, he
is entitled to have the accounts of his administration of the trust-property
examined and settled; and, where nothing is due to the beneficiary under the
trust, to an acknowledgement in writing to that effect.

General authority of trustee.

36. In addition to the powers expressly conferred by this
Act and by the instrument of trust, and subject to the restriction, if any,
contained in such instrument, and to the provisions of section 17, a trustee may
do all acts which are reasonable and proper for the realization, protection or
benefit of the trust-property, and for the protection or support of a
beneficiary who is not competent to contract.

Except with the
permission of a principal Civil Court of original jurisdiction, no , trustee
shall lease trust-property for a term exceeding twenty-one years from the date
of executing the lease, nor without reserving the best yearly rent than can be
reasonably obtained.

Power to sell in lots and either by public auction or private
contract.

37. Where the trustee is empowered to sell any
trust-property, he may sell the same subject to prior charges or not, and
either together or ,in lots, by public auction or private contract, and either
at one time or at several times, unless the instrument of trust otherwise
directs.

Power to sell under special conditions - Power to buy-in and
re-sell.

38. The trustee making any such sale may insert such
reasonable stipula­tions either as to title or evidence of title, or otherwise,
in any conditions of sale or contract for sale, as he thinks fit; and may also
buy-in the property or any part thereof at any sale by auction, and rescind or
vary any contract for sale, and re-sell the property so bought in, or as to
which the contract is so rescinded, without being responsible to the
beneficiary for any loss occasioned thereby.

Time allowed for
selling trust-property.

Where a trustee is directed to sell trust-property or to
invest trust-money in the purchase of property, he may exercise a reasonable
discretion as to the time of effecting the sale or purchase.

Illustrations

(a) A bequeaths property to B,
directing him to sell it with all convenient speed and pay the proceeds to C.
This does not render an immediate sale imperative.

(b) A bequeaths property to B, directing him to sell
it at such time and in such manner as he shall think fit and invest the
proceeds for the benefit of C. This does not authorize B, as between him and C,
to postpone the sale to an indefinite period.

Power to convey.

39. For the purpose of completing any such sale, the trustee
shall have power to convey or otherwise dispose of the property sold in such
manner as may be necessary.

Power to vary investments.

40. A trustee may, at his discretion, call in any trust-property
invested in any security and invest the same on any of the securities mentioned
or referred to in section 20, and from time to time vary any such investments
for others of the same nature:

Provided that, where
there is a person competent to contract and entitled at the time to receive the
income of the trust property for his life, or for any greater estate, no such
change of investment shall be made without his consent in writing.

Power to apply property of minors, etc., for their maintenance,
etc.

41. Where any property is held by a trustee in trust for a
minor, such trustee may, at his discretion, pay to the guardians (if any) of
such minor, or otherwise apply for or towards his maintenance or education or
advancement in life, or the reasonable expenses of his religious worship,
marriage or funeral, the whole or any part of the income to which he may be
entitled in respect of such property; and such trustee shall accumulate all the
residue of such income by way of compound interest, by investing the same and
the resulting income thereof from time to time in any of the securities
mentioned or referred to in section 20, for the benefit of the person who shall
ultimately become entitled to the property from which such accumulations have
arisen:

Provided that such
trustee may, at any time, if he thinks fit, apply the whole or any part of such
accumulations as if the same were part of the income arising in the then
current year.

Where the income of the trust-property is insufficient for
the minor's mainte­nance or education or advancement in life, or the reasonable
expenses of his religious worship, marriage or funeral, the trustee may, with
the permission of a principal Civil Court of original jurisdiction, but not
otherwise, apply the whole or any part of such property for or towards such
maintenance, educa­tion, advancement or expenses.

Nothing in this
section shall be deemed to affect the provisions of any local law for the time
being in force relating to the persons and property of minors.

Power to give receipts.

42. Any trustees or trustee may give a receipt in writing
for any money, securities or other movable property payable, transferable or
deliverable to them or him by reason, or in the exercise, of any trust or
power; and, in the absence of fraud, such receipt shall discharge the person
paying, transferring or delivering the same therefrom, and from seeing to the
application thereof, or being accountable for any loss or misapplication
thereof.

Power to compound, etc.

43. Two or more
trustees acting together may; if and as they think fit—

(a) accept any
composition or any security for any debt or for any property claimed;

(b) allow any time
for payment of any debt;

(c) compromise, compound, abandon, submit to arbitration or
otherwise settle any debt, account, claim or thing whatever relating to the
trust; and

(d) for any of those purposes, enter
into, give, execute and do such agree­ments, instruments of composition or
arrangement, releases and other things as to them seem expedient, without being
responsible for any loss occasioned by any act or thing so done by them in good
faith.

The powers conferred by this section on two or more trustees
acting together may be exercised by a sole acting trustee when by the
instrument of trust, if any, a sole trustee is authorized to execute the trusts
and powers thereof.

This section applies only if and as far as a contrary
intention is not expressed in the instrument of trust, if any, and shall have
effect subject to the terms of that instrument and to the provisions therein
contained.

This section
applies only to trusts created after this Act comes into force.

Power to several trustees of whom one disclaims or dies.

44. When an authority to deal with the trust-property is
given to several trustees and one of them disclaims or dies, the authority may
be exercised by the continuing trustees, unless from the terms of the
instrument of trust it is apparent that the authority is to be exercised by a
number in excess of the number of the remaining trustees.

Suspension of trustee's powers by decree.

45. Where a decree has been made in a suit for the execution
of a trust, the trustee must not exercise any of his powers except in
conformity with such decree, or with the sanction of the Court by which the
decree has been made, or, where an appeal against the decree is pending, of the
Appellate Court.