Section 37(1) of the Transfer of Land Act 1958 (Vic) forbids the registration of a beneficial interest on title, however it does allow for a trust to be declared by any document and deposited with the Registrar for safe custody.

This section reads:

The Registrar shall not record in the Register notice of any trust whether express implied or constructive; but trusts may be declared by any document, and an attested copy thereof may be deposited with the Registrar for safe custody and reference; and the Registrar may protect in any way he deems advisable the rights of the persons for the time being beneficially interested thereunder or thereby required to give any consent; but the rights incident to any proprietorship or to any instrument registered under this Act shall not be in any manner affected by the deposit of such copy nor shall any such copy form part of the Register or be deemed to be registered.