• Second Trustee

    By Guest on 13th Nov 2014

    Why do i need second trustee

  • 1 Answers

    By Guest on 05/01/2015

    This is usually because the property you own has a "form A" restriction against the title preventing a change of ownership from being registered where the transfer is signed by just one person. A form A restriction is usually added where 2 or more people own a property as tenants in common, so that on the death of one of the proprietors his / her share passes via his / will or intestacy, as opposed to joint tenants where the share passes automatically to the survivor. The need for a second trustee arises either where a joint owner has died leaving just one surviving owner or where a coue separate and the property is transferred into the sole name of one of the owners but the restriction isn't properly dealt with.

    The problem is that although the equitable title (the right to the sale proceeds) is held as tenants in common the legal title (the right to transfer ownership) can only ever be joint tenants, so the deceased's executor cannot sign the transfer deed unless he is appointed trustee

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