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The beneficiaries
hold their individual shares in the land as
beneficial owners.
Footnotes
3
4
Where a vesting order is sought to gift
Māori land shares that have a value of
over $2,000, the owner of the shares will
need to give evidence, either in Court or
in a written affidavit 13 or declaration, to
support the application.
A principle-based approach is commendable, but it is of little value if it is not
supported by analysis of the existing law and how well that law advances the said
principles.
Records
4.10 The trustees will maintain and secure all records and property of value (including taonga).
4.11 The trustees will establish and maintain an up to date register of beneficiaries.
5.
To transfer is sale, you’ll also need to provide:
evidence of the value of the shares being sold
evidence or agreement to support a lower value sale (if below valuation).
The Court gives the Trustees control of the Trust Property so that the Trustees can deal
with the Trust Property, for the benefit of the Beneficiaries. How the Trustees may hold
and deal with the Trust Property is subject to the terms of this Trust.