When you have an express trust, it has some important features. It is a special kind of relationship where a trustee looks after some property for the people who benefit from it, or for a reason that is allowed. The trustee must answer for how they do their job and follow the rules that the law sets out for them.

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This page was last updated on 18 July 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM7382879.

Topics:

Money and consumer rights > Banking and loans

12: Meaning of express trust, or

"What is an express trust in the law about trusts?"

14: Sole trustee cannot be sole beneficiary, or

"If you're in charge of a trust alone, you can't be the only one who gets benefits from it."

Part 2Express trusts

13Characteristics of express trust

The characteristics of an express trust are as follows:
it is a fiduciary relationship in which a trustee holds or deals with trust property for the benefit of the beneficiaries or for a permitted purpose; and
the trustee is accountable for the way the trustee carries out the duties imposed on the trustee by law.