2141. Interpretation
In this Part, unless the context otherwise requires-
“authorised investments” means investments authorised by the instrument, if any, creating the trust for the investment of money subject to the trust, or by law;
“contingent right” includes a substitution;
“convey” and “conveyance” as applied to any person include the execution by that person of every necessary or suitable assurance (including an assent) for conveying, assigning, appointing, surrendering, or otherwise transferring or disposing of land whereof he or she is seized or possessed, or wherein he or she is entitled to a contingent right, either for the whole of his or her interest therein or for any part thereof together with the performance of all formalities required by law for the validity of the conveyance;
“court” means the Supreme Court or a Judge thereof;
“deed” means a notarial instrument;
“instrument” includes an Act;
“land” means immovable property as defined in this Code;
“mortgagee” means the creditor under an hypothecary obligation whether he is the original creditor or not;
“pay” and “payment” as applied in relation to stocks and securities and in connection with the expression “into Court” include the deposit or transfer of the same in or into Court;
“personal representative” means the executor original or by representation or administrator for the time being of a deceased person, and includes the Administrator General;
“possession” includes receipt of rents and profits or the right to receive the same, if any;
“income” includes rents and profits ; and
“possessed” applies to receipt of income of and to any vested interest less than a life interest in possession or in expectancy in any land;
“property” includes immovable and movable property, and any share and interest in any property, immovable or movable, and any debt, and any thing in action, and any other right or interest, whether in possession or not;
“rights” includes interests in property;
“sale” includes an exchange;
“securities” includes stocks, funds, and shares; and “securities payable to bearer” includes securities transferable by delivery or by delivery and endorsement;
“stock” includes fully paid-up shares, and so far as relates to vesting orders made by the Court under this Part, includes any fund, annuity, or security transferable in books kept by any company or society, or by instrument of transfer either alone or accompanied by other formalities, and any share or interest therein;
“transfer” in relation to stock or securities includes the performance and execution of every deed, power of attorney, act, and thing on the part of the transferor to effect and complete the title in the transferee;
“trust” and “trustee” extend to implied and constructive trusts and to cases where the trustee has a beneficial interest in the trust property, and to the duties incident to the office of a personal representative, and “ trustee” where the context admits, includes a personal representative, and “ new trustee” includes an additional trustee;
“trust corporation” means the Administrator General or a corporation entitled by law or appointed by the Court in any particular case to be a trustee;
“trust for sale” in relation to land means an immediate binding trust for sale, whether or not exercisable at the request or with the consent of any person, and with or without power at discretion to postpone the sale; “trustees for sale” means the persons (including a personal representative) holding land on trust for sale.