Article 103: (Arts. 102 and 103) of the Act 1908:
The period of limitation for a suit to make good out of the general estate of a deceased trustee the loss occasioned by a breach of trust is three years and the time of limitation starts to run from the date of the trustee’s death or if the loss has not then resulted, the date of loss.
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ADVERTISEMENTS:
In Sahandra v. Deo Radha, (ILR (1940) Nag. 94), it has been decided that the suit contemplated by Art. 103 is a suit for recovery of the trust property, but for compensation for the loss. The Art. 103 carries a deceased trustee’s liability for breach on to his estate after his death.
In Mirabai v. Kaushalybai, (AIR 1949 Nag. 235), it has been held that a guardian of property appointed under the Guardians and Wards Act is not a person in whom the property is vested for a specific purpose. He is a trustee. Therefore the Art. 103 applies to a suit against legal representative of the guardian of minor’s property for amount taken by the guardian from minor and repaid.
Art. 103 carries the liability of the deceased trustee the loss occasioned for breach of trust relating to his general estate after his death. The expression “general estate” means assets and properties of the deceased trustee which would be liable for person’s debts not only during his lifetime but also after his death.
In Sahandra v. Deo Rcidha, (AIR 1938 Nag. 30), it has been held that the loss occasioned by breach of trust arose before the death of the trustee, the limitation under Art. 103 starts from the date of death of trustee. Any suit filed beyond this period of three years after his death will be barred by limitation.