When is the deadline for actions by a beneficiary for breach of trust or to recover trust property?
The catalogue records a 72 months period from Date on which the right of action accrued; for a beneficiary entitled to a future interest, when the interest falls into possession. This draft page remains free only until its source, worked example and limits are reviewed.
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In preparation
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Example pending review
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Calculation basis and source
- Period
- 72 months
- Trigger
- Date on which the right of action accrued; for a beneficiary entitled to a future interest, when the interest falls into possession
- Counting
- The encoded calculator method must be independently documented before publication.
- Rollovers and holidays
- Holiday, closure and order treatment must be independently documented before publication.
This route remains in preparation until a pinpoint official source is recorded.
- Core Cayman trusts provision. No period at all applies to a claim in respect of fraud or fraudulent breach of trust to which the trustee was a party or privy, or to recover trust property or its proceeds from the trustee (section 27(1)). Section 27(2) limits the exposure of a trustee-beneficiary who took a distribution honestly and reasonably to the excess over his proper share