An Act to restrict the creation of settlements, trusts and future interests.
This Act places restrictions on the creation of settlements, trusts and future interests in relation to rights in land and other property.Subject to certain exceptions, the Act prohibits the settlement of property, the limitation of any property in trust for another or any vesting in possession of property at a future date. Exceptions concern, among other things, tenancy for life and tenancy in common. The Act also defines the effects of any dispositions made contrary to this Act.