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In its legal use, this means physical or mental disablement that, in the opinion of
the Court, results in a person lacking, wholly or partly, the competence to manage
their affairs in relation to their property.
8. A person who has not yet reached the age of 20.
9. Owner(s) of shares of land held within a trust.
These people can be:
• the owner’s children or direct descendants
• any whanaunga of the owner who, in
accordance with tikanga Māori 9, are
associated with the land
• the other beneficial owners 10 of shares in
the same land who are members of the
hapū associated with that land
• the trustees for any of the people referred
to above
• anyone descended from a former owner
of the land who is, or was, a member of
the hapū associated with that land.
These people can be:
• the owner’s children or direct descendants
• any whanaunga of the owner who, in
accordance with tikanga Māori 9, are
associated with the land
• the other beneficial owners 10 of shares in
the same land who are members of the
hapū associated with that land
• the trustees for any of the people referred
to above
• anyone descended from a former owner
of the land who is, or was, a member of
the hapū associated with that land.
These people can be:
• the owner’s children or direct descendants
• any whanaunga of the owner who, in
accordance with tikanga Māori 9, are
associated with the land
• the other beneficial owners 10 of shares in
the same land who are members of the
hapū associated with that land
• the trustees for any of the people referred
to above
• anyone descended from a former owner
of the land who is, or was, a member of
the hapū associated with that land.
With shares held by individuals becoming increasingly fractionated but shares held in whānautrusts being relatively stable, I foresee a time when these whānautrusts will be major shareholders in trusts and incorporations.
For example, an
application for succession will require a
death certificate, any grant of administration
(probate 2 or letters of administration 3) or the
original will, minutes of a whānau meeting if
a whānautrust is required and consents of
the proposed trustees.