Discussion on the appointment of trustees to Māori land trusts
01 Feb 2012 | NewsTrustees may be held personally liable, jointly and severally, for any losses a trust may sustain and for other breaches of trust.
Trustees may be held personally liable, jointly and severally, for any losses a trust may sustain and for other breaches of trust.
With shares held by individuals becoming increasingly fractionated but shares held in whānau trusts being relatively stable, I foresee a time when these whānau trusts will be major shareholders in trusts and incorporations.
The respective whānau trusts are coordinated through an ahu whenua trust for the management of the whole block and in dealings with third parties such as the Rotorua District Council.
(j) Extension Period: A further term of [35] years after the Expiry Date. (k) Landowner(s): [insert the names of the owners of the Parent Block or the name of the existing management structure (in the case of a trust, name the current trustees, followed by “as trustees of the [name of trust]”)] (l) Maximum Occupants: [Twelve (12)] people.
Documents/Guides-Templates-Factsheets/2021-03-12-Example-Occupation-Order.pdf (150 kb)
‘Mandatory’ duties must be performed by the trustee and cannot be changed or avoided by the terms of the trust (the trust order). These include the duties to know the terms of the trust, to act in accordance with the terms of the trust, to act honestly and in good faith, and to act for the benefit of beneficiaries of the trust.
Documents/Guides-Templates-Factsheets/Factsheet-for-landowners-Trustee-Act.pdf (68 kb)
You must notify us if: the term is for a period of 21 years or more, including any terms of renewal the term is for a period of more than 52 years or if one or more terms of renewal are equal to more than 52 years (a long-term lease), or a party to any lease obtains a transfer, variation, discharge or surrenders a lease which has a term of over 21 years.
The land interests would then go directly back to those beneficiaries of the estate who contributed shares to the whānau trust. ‘Māori Land Trusts’ includes a section on whānau trusts.
Documents/Guides-Templates-Factsheets/MLC-succession-english.pdf (1.2 mb)
The land interests would then go directly back to those beneficiaries of the estate who contributed shares to the whānau trust. ‘Māori Land Trusts’ includes a section on whānau trusts.
Owner(s) of shares of land held within a trust. Beneficiaries are also called the beneficial owners. 10.
Documents/Guides-Templates-Factsheets/MOJ0217.4E-OCT21-Maori-Reservations.pdf (348 kb)
Footnotes 3 4 Term of office A trustee remains in office unless he or she is removed by order of the Court.
Documents/Guides-Templates-Factsheets/MLC-maori-reservations-english.pdf (389 kb)