DOES THE TRUSTEE'S DUTY OF IMPARTIALITY EXTEND TO REAL PROPERTY?
AbstractThe Supreme Court of Canada insists on maintaining the traditional distinction between real and personal property when imposing a duty to sell and convert trust assets. After summarizing the traditional position on the circumstances in which the duty arises, this article makes a case for extending the rule to real property and discusses the Court’s refusal to do so on the grounds that change must be legislative. It defines the rule of impartiality where the power to sell exists, explores those situations where it may operate to produce the same result as extending the rule, and refutes the claim that change must be legislated, insisting that changing social and economic variables warrant extension of the rule.
Keywords:Real Property, Trust Law
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