Number of trustees depends on the nature of the trust property.

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The number of trustees is tied to the nature of the trust property. When the trust holds land, the law generally requires more than one trustee to hold the legal title and oversee administration, providing safeguards and continuity if a trustee can’t act. If the trust deals only with personal property, a single trustee can usually manage, unless the trust deed says otherwise. So the defining factor is whether the property is land or personal property, not the settlor’s income, the property’s location, or a fixed legal number across all cases. That’s why this statement is correct.