Variation of Trusts Act 1958

The Variation of Trusts Act 1958 (c 62) is an Act of the Parliament of the United Kingdom that governs the courts' ability to vary the terms of trust documents. Prior to the 1950s, the courts were willing to approve "compromise" agreements as to what terms meant, not only when they were disputed but also for the benefit of certain parties, such as minors. In 1954, the House of Lords decided in that this would no longer be permitted, creating a gap between the rights of trusts under the Settled Land Act 1925 (which could be altered if there was a flaw) and those trusts that were not (which were affected by the Chapman decision). As a result, following a report by the Law Reform Committee, Petre Crowder introduced the Variation of Trusts Bill to Parliament, where it was given the Royal Asse

Variation of Trusts Act 1958

The Variation of Trusts Act 1958 (c 62) is an Act of the Parliament of the United Kingdom that governs the courts' ability to vary the terms of trust documents. Prior to the 1950s, the courts were willing to approve "compromise" agreements as to what terms meant, not only when they were disputed but also for the benefit of certain parties, such as minors. In 1954, the House of Lords decided in that this would no longer be permitted, creating a gap between the rights of trusts under the Settled Land Act 1925 (which could be altered if there was a flaw) and those trusts that were not (which were affected by the Chapman decision). As a result, following a report by the Law Reform Committee, Petre Crowder introduced the Variation of Trusts Bill to Parliament, where it was given the Royal Asse