(j) To grant forestry rights; to grant, renew, vary, transfer, assign or accept the
surrender of any forestry right or joint venture deforestation agreement in respect
of the Trust Land and to sell or mortgage any such forestry right or forest
products PROVIDED THAT:
(i) the Trustees have first made provision for the Beneficial Owners'
occupation of the land under clause 20.4(g);
(ii) the term is no longer than 52 years;
(iii) the forestry right or agree...
When this happens, the right to income or to live in
the family home will end after a specified period (if there is
one), or when the recipient passes away or gives up the right
in writing.
You also need to update your records when a surviving
spouse passes away or remarries and incomerights pass
to the successors, similar to the current process when life
interests end.
participate in discussions on any matter concerning their
remuneration, terms of employment or any contract in which
they may be interested.
INCOME
After payment of all trust accounts and expenses, the
trustees may use the surplus income as set out in the trust
order.
A spouse, or civil union or de fector partner, may be entitled
to a right to income from the land or a right to occupy the
family home on the land should the shareholder die.
These funds may include rental income or dividends from the land blocks.
Lifetime right
Sections 116 and 109AA of Te Ture Whenua Māori Act 1993
The Court can make an order for a whāngai and/or spouse to succeed to a lifetime right.
The spouse/partner* desires to give up in writing their right to receive any income or discretionary grants from
the interest (written consent to giving up of right attached).
