I have been appointed a trustee over a property for some beneficiaries, I was told to make sure that I am aware of the Trusts of Land Appointment of Trustees Act 1996 and powers and duties as a trustee.
What is the Trusts of Land Appointment of Trustees Act 1996 and how does it apply to trustees?
The Answer from Solicitors Online
Trusts of Land Appointment of Trustees Act 1996
The Trusts of Land Appointment of Trustees Act 1996 governs how Trustees must behave in their role as a Trustee.
What powers do Property Trustees have?
Trustees of a property or land have all the same powers that a full owner of the property or land would have, according to Section 6(1) of the Land Appointment of Trustees Act 1996.
What duties do Property Trustees have?
Trustees have several duties. Trustees must get the best financial return from trust property that they can reasonably get.
Trustees must use a reasonable level of care and skill taking into consideration any knowledge that they have or are expected to have from their profession.
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