Common Contracts
1 similar Discretionary Trust Agreement contracts
Discretionary beneficiary vs beneficiary. Discretionary trust agreement.Discretionary Trust Agreement • May 1st, 2023
If an individual or trust is unable to service their debt, an application can be made for sequestration of their estate. In terms of the current South African insolvency law, this may be voluntary or involuntary. Voluntary sequestration is the discretionary surrendering of the estate of an individual or trust to the Master of the High Court. The Master of the High Court appoints a curator to assume control of the surrendered estate. Involuntary sequestration occurs when an application to sequestrate is instituted by a creditor.
