8:55 AM, 4th May 2018, About 5 years ago 1
I hope you may be able to shed some light onto the following situation please.
A family Discretionary Trust owns a house among its assets. There are three Trustees and one of them lives in the house as their Principal Private Residence, rent free, and is also a Beneficiary of the Trust. As that person is a part owner of the property via the Trust, there is no Tenancy Agreement.
Therefore, is that person a Tenant and if so, is the Trust deemed to be a Landlord? This is important for the legal liability of the Trust.
If that person had been a third party paying rent with a Tenancy Agreement, then the position is clear.
I really appreciate any comments you may have.