13.1 A trust is a form of contract, whereby money or property is given to the trustees subject to a duty to apply it for a specified purpose, and public law will ensure that the property is used for that purpose. Such trusts may be for charitable objects, so they can be registered as charities, with consequent tax advantages, and they may be incorporated. A local authority can act as a trustee, or indeed the sole trustee. Where the trust sells property, the proceeds of sale of the property must be applied to the trust purposes. The trustees are normally not liable for tax on any income or profit enjoyed by the trust, but the beneficiaries of the trust may be liable if any sums are paid to them from the trust funds.