As a trustee of a discretionary trust I have been renting a simple domestic property for some time. Having just had a tenant move out I thought it prudent to take a look at upcoming legislation given the abolition of s21.
Whilst little has been written online about the impact on trustees, I have a irrational/maybe rational fear of being the first test case to remove a difficult tenant who has slipped through the parameters of section 8. The following concerns come to mind:
- Ground 1 Occupation of Principal Home for Landlord or Family - Presumably does not apply to properties owned by trustees?
- Ground 1a Sale of Property: Should the Trustees sell the property would that be acceptable, presumably yes? and;
- What would be the position if the trustees distributed the property to a named discretionary beneficiary. Would that beneficiary have the right to move into the property or sell it as the new owner?
Everything looks a little blurry to my inquisitive eye at present, any thoughts would be appreciated as leaving the property empty until the Bill is passed feels a little wrong.
Many thanks in anticipation…