Transfers: appointing a second trustee on the sale of property | Practical Law

Transfers: appointing a second trustee on the sale of property | Practical Law

A clause for use in a transfer form to appoint a second trustee on the sale of a property which is subject to a trust.

Transfers: appointing a second trustee on the sale of property

Practical Law UK Standard Clause 3-523-0848 (Approx. 13 pages)

Transfers: appointing a second trustee on the sale of property

Maintained, England, Wales
A clause for use in a transfer form to appoint a second trustee on the sale of a property which is subject to a trust.
A second trustee is appointed in these circumstances to enable the beneficial interests in the property to be overreached in favour of the buyer and to satisfy the terms of the form A restriction which will have been entered on the register to protect the beneficiaries.
This clause is designed to be inserted in panel 11 of form TR1, which is the Land Registry prescribed form of transfer for registered land.