Section 344: Power to relinquish benefit of trust property

1) In the case of a private trust, the beneficiary who is competent to make a contract may, by a notice in writing to the trustee and the registrar, relinquish any or all of his or her right, benefit, facility, or interest from the trust property.

2) If every beneficiary wholly relinquishes the right, benefit, facility or interest from the trust property pursuant to sub-section (1), such a trust shall be deemed to have been dissolved.