Trustee Act 1925 No 14
Current version for 6 January 2012 to date (accessed 30 January 2015 at 07:21)
Part 1Section 5

5   Definitions

In the interpretation of this Act, unless the context or subject-matter otherwise indicates or requires:

Administrator means administrator within the meaning of the Probate and Administration Act 1898 and includes the NSW Trustee acting as collector of an estate under an order to collect.

Contingent right, as applied to land, includes a contingent or executory interest, a possibility coupled with an interest, whether the object of the gift or limitation of the interest or possibility is or is not ascertained, also a right of entry, whether immediate or future, and whether vested or contingent.

Convey and conveyance, applied to any person, include the execution or doing by that person of every necessary or suitable assurance act and thing for conveying, assigning, appointing, surrendering, or otherwise transferring or disposing of property.

Court means the Supreme Court.

Executor means the executor to whom probate has been granted and includes an executor by right of representation.

Government securities include Government stocks, funds, bonds, debentures and Treasury bills.

Incapable person means a person not a minor who is incapable through mental infirmity, arising from disease or age, of managing his or her affairs, but who is not an insane person.

Insane person means a person who has been found or declared, whether by inquisition or under any Lunacy Act in force at the time, to be insane or of unsound mind and incapable of managing himself or herself or his or her affairs.

Instrument includes deed will and Act of Parliament.

Joint tenant includes joint owner.

Land includes tenements and hereditaments, corporeal and incorporeal, and every estate and interest therein, whether vested or contingent, freehold or leasehold, and whether at law or in equity, in severalty or otherwise.

Legal representative means executor or administrator.

Minor means a person under the age of eighteen years.

Mortgage includes and relates to every estate and interest regarded in equity as merely a security for money.

Mortgagee includes any person from time to time deriving title to the mortgage under the original mortgagee.

Mortgagor includes any person from time to time deriving title to the equity of redemption under the original mortgagor, or entitled to redeem a mortgage, according to the person’s estate interest or right in the mortgaged property.

NSW Trustee means the NSW Trustee and Guardian constituted under the NSW Trustee and Guardian Act 2009.

Order includes judgment.

Pay into court and payment into court in relation to stocks and securities, include the deposit or transfer of the same in or into court.

Possessed extends to receipt of income of, and to any vested estate less than a life estate, legal or equitable, in possession or in expectancy, in any property.

Property includes real and personal property, and any estate or interest in any property, real or personal, and any debt, and any thing in action, and any claim or demand, and any other right or interest, whether in possession or not.

Purchaser includes a lessee or mortgagee, or other person who for valuable consideration takes or deals for any property; and purchase has a meaning corresponding with that of purchaser; but sale means only a sale properly so-called.

Regulation means regulation made under this Act.

Right includes estate and interest.

Security includes stocks, funds, shares.

Stock includes paid-up shares; and, so far as relates to vesting orders made by the Court under this Act, includes any fund annuity or security transferable in books kept by any corporation company or society, or by instrument of transfer, either alone or accompanied by other formalities, and any share or interest therein.

Transfer in relation to stock includes the performance and execution of every deed, power of attorney, act, and thing on the part of the transferor to effect and complete the title in the transferee.

Trust does not include the duties incident to an estate conveyed by way of mortgage; but, with this exception, includes implied and constructive trusts, and cases where the trustee has a beneficial interest in the trust property, and the duties incident to the office of legal representative of a deceased person.

Trustee has a meaning corresponding with that of trust; and includes legal representative and the NSW Trustee and a trustee company.

Trustee company means an incorporated company authorised by Act of Parliament of this State to act as trustee in New South Wales.

Trustee for sale means a trustee in whom a trust for sale or a power of sale of property is vested.

Will includes codicil.

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