Property and trusts - Be careful.
Category Industry News
This case yet again demonstrates the need to be careful when dealing with a trust” (extract from judgment below)
For most of us, business dealings with trusts are most likely to happen when selling a property to, or buying a property from, a trust. But no matter why or how it happens, have your lawyer check that whoever signs for the trust is fully authorised to do so.
For want of authority, the case is lost
Otherwise you could be in for a major shock if you come to blows and need to ask a court for assistance. Witness the case of a bank trying to enforce a trustee’s personal suretyship –
http://us5.campaign-archive1.com/?u=7a866560d86943bb05b946128&id=eb669ea65b&e=ca1789db80
Author: Bisset Boehmke McBlain Attorneys
