There is no provision in the Trust Property Control Act, 1988 that requires the deregistration of trusts.
However, this said, it does not mean that a trust can never be terminated, as there are a few events that can occur during the lifetime of the founder, the trustees or the beneficiaries.
When considering the termination of the trust, the first step will always be to turn to the provisions of the trust deed.
Some of the most common provisions are:
For the termination of a trust, the following documents are required:
Upon receipt of the above documents, the Master will deregister the trust. Please note that the above documents must be lodged with the Master with whom the Trust has been registered.
This article is a general information sheet and should not be used or relied upon as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your financial adviser for specific and detailed advice. Errors and omissions excepted (E&OE)