I have an estate where the property the deceased lived in is subject to a poorly written trust document. It seems to be a declaration of trust.
The deceased (and her husband who predeceased but was also named as a beneficiary) lived in a property that was initially bought by one of their daughters. In 2002 a “Deed of Declaration of Trust” was created. The property was transferred into the names of 4 daughters as trustees. The property was to be held for the “benefit of the Beneficiaries”.
The Trust deed goes on to say
“The Trustees hold the property for the benefit of the Beneficiaries and do not have any proprietary interest therein”
“The Beneficiaries hereby acknowledge that the Trustees hold the Property for their benefit and on their behalf and do not have any proprietary interest therein”
“The Trustees have also agreed that the Beneficiaries can enter a restriction at the HM Land Registry to the effect that no dealing with the property shall take place without the beneficiaries consent”
And then it ends. There is no direction as to what is to happen to the property when the Beneficiaries have died (which is what has now happened). The title of the property is in the names of the 4 trustees and there is a Form A Restriction and also a restriction preventing any sale without the authority of the beneficiaries.
My question is whether the property falls into the estate of the second beneficiary or whether it becomes trust property and, if so, what kind of trust?
Any help would be appreciated, thanks.
Gemma Van Duke