If a deceased property was left to a charity in their residuary estate but it has an ongoing tenancy do the trustees have to hold the property until the tenancy ends or can it be appropriated to the charity as a beneficiary?
Lucy Leach
Under normal circumstances, the charities will take the property subject to the ongoing tenancy and the property can be appropriated and assented to the charities or their nominee without the need to wait for the tenancy to end.
However, if the tenant is, say, a licensee at will or the tenancy has been created under the terms of a will or settlement, the situation may be less clear and the executor should consider taking specific legal advice on the position.
Paul Saunders FCIB TEP
Independent Trust Consultant
Providing support and advice to fellow professionals
That is really helpful thank you. They have been advised that it is the exec/trustees responsibility until the tenancy ends. I assume any maintenance and upkeep due for the land/property will be payable from the estate?
Lucy Leach