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Renouncing Position as a Trustee

Renouncing Position as a Trustee

Postby InNeedOfHelp » Fri Jul 10, 2015 10:24 am

Hello all

Can a trustee be held liable for trust costs, ie: if a property title is in the name of the trustee and the council tax is not paid would the council be able to enforce the debt against the trustee personally.

Thanks for reading
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Re: Renouncing Position as a Trustee

Postby atticus » Fri Jul 10, 2015 10:51 am

In all likelihood: yes. Trustee *may* be entitled to indemnity out of trust assets.

The question asked is not related to the title of the post. Or is there a follow-up question?
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Re: Renouncing Position as a Trustee

Postby atticus » Fri Jul 10, 2015 11:01 am

Is this connected to your previous posts?

If so, you may be in too deep in terms of your involvement as a trustee to be able to cease to hold that position.
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Re: Renouncing Position as a Trustee

Postby InNeedOfHelp » Fri Jul 10, 2015 2:39 pm

It is not directly related. I took a back seat and left the running of the trust to my soon to be ex. Unfortunately the council tax has not been paid on the trust property and that property is still in my name so the council are seeking to enforce against me.

Sorry I meant to change the title but cannot see where I can now edit it.
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Re: Renouncing Position as a Trustee

Postby atticus » Fri Jul 10, 2015 3:41 pm

So it is connected.
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Re: Renouncing Position as a Trustee

Postby dls » Fri Jul 10, 2015 7:15 pm

The obligation to pay taxes may fall on the legal owners - the trustees.

Depending on the tax it may fall on the occupiers - who may or may not be the trustees.
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Re: Renouncing Position as a Trustee

Postby InNeedOfHelp » Thu Jul 23, 2015 11:36 am

Thanks DLS, the Council are saying that those named on the title with the land registry are liable. They're not interested in who the actual legal & beneficial owners are!
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Re: Renouncing Position as a Trustee

Postby atticus » Thu Jul 23, 2015 12:02 pm

The persons named on the Land Registry title ARE the legal owners.

dls said that liability *may* fall on the occupiers.
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Re: Renouncing Position as a Trustee

Postby InNeedOfHelp » Thu Jul 23, 2015 1:18 pm

I misread his post, even so there really is no needs for the capitals is there? So patronising.
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Re: Renouncing Position as a Trustee

Postby atticus » Thu Jul 23, 2015 1:48 pm

Always pleased to assist. Your thanks are all I ask.
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