34(1)Subject to this Act and to their fiduciary obligations, the trustees have the powers and capacity of an individual of full capacity in relation to trust property as if the property were vested in the trustees absolutely and for their own use.
34(2)Without limiting subsection (1), the trustees may
(a)
sell, lease or enter into any other transaction relating to trust property,
(b)
borrow money for the purpose of carrying out the trust, and
(c)
create a security interest in trust property.
34(3)The trustees may, with the consent of a beneficiary, use the income or capital to which the beneficiary is entitled
(a)
to purchase or rent living accommodation for the beneficiary, or
(b)
to construct a residence for the beneficiary on land that is part of the trust property or is purchased for the construction.
34(4) The trustees may, with the consent of a beneficiary, appropriate specific trust property, at fair market value, in or towards satisfaction of the share or interest of the beneficiary.
34(1)Subject to this Act and to their fiduciary obligations, the trustees have the powers and capacity of an individual of full capacity in relation to trust property as if the property were vested in the trustees absolutely and for their own use.
34(2)Without limiting subsection (1), the trustees may
(a)
sell, lease or enter into any other transaction relating to trust property,
(b)
borrow money for the purpose of carrying out the trust, and
(c)
create a security interest in trust property.
34(3)The trustees may, with the consent of a beneficiary, use the income or capital to which the beneficiary is entitled
(a)
to purchase or rent living accommodation for the beneficiary, or
(b)
to construct a residence for the beneficiary on land that is part of the trust property or is purchased for the construction.
34(4) The trustees may, with the consent of a beneficiary, appropriate specific trust property, at fair market value, in or towards satisfaction of the share or interest of the beneficiary.