Covid-19 Bounce Back loans for property businesses16:06 PM, 5th May 2020
About 3 weeks ago 46
I am trustee of a family discretionary Trust, providing rental income to various beneficiaries.
Under Labour’s proposed plan to allow tenants to buy the property they are renting, will the trustees of this Trust have to agree to the rental property being sold to the tenant. Which as far as the Trustees are concerned is detrimental to the beneficiaries and wishes of the settlor who wanted to create an income stream for the beneficiaries.
In other words, will the trust offer protection against property having to leave the trust, against Trustee wishes or is any law change likely to be at least retrospective and not affect property placed in trusts before any new legislation?
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