Taking security from trust funds
Produced in partnership with Martin Blake of Farrer & Co
Practice notesTaking security from trust funds
Produced in partnership with Martin Blake of Farrer & Co
Practice notesTrustees and trust assets
In many respects, taking security from trustees over trust assets is similar to taking security from chargors who own the relevant asset outright. Considerations which would apply when taking security from an individual will also apply when taking security from individual trustees and the same for their corporate equivalents. This Practice Note does not seek to cover areas and issues which are of general application when taking security but rather focuses on those particular points to bear in mind when taking security over trust assets.
This Practice Note covers the following matters:
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the nature of trusts
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the powers of trustees to borrow and grant security
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particular issues to consider where security is taken over land
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regulatory aspects, and
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documentary considerations
Please note that this Practice Note considers issues relating to the taking of security from trustees generally and not charity trustees. For a consideration of issues relevant to charity trustees, see Practice Note: Mortgages by charity trustees.
Before looking at specific points which concern taking
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