Trustee Duties: Investment Flashcards

1
Q

Can trustees purchase land for beneficiaries?

A

S8 of the Trustee Act 2000 permits trustees to purchase freehold or leasehold land in the UK for occupation by a beneficiary but s8 involves the exercise of a discretion so it is up to the trustees to decide whether or not to invest trust money in this way

Beneficiaries cannot control trustees’ discretions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Can trustees loan money to beneficiaries?

A

They can only do so for the beneficiary to buy a house, provided they obtain a mortgage over the borrower’s land

How well did you know this?
1
Not at all
2
3
4
5
Perfectly