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This Q&A suggests that a discretionary Will trust was established, of which X, Y and Z are discretionary beneficiaries. The extent to which trust property is appointed and distributed to those individuals will be a matter for the trustees of the discretionary trust to decide. The question states that the beneficiary (X) who wishes to purchase the property is the sole executor of the Will. Depending on the wording in the Will, X may also be the sole trustee of the ongoing discretionary trust. X’s powers and duties as trustee of the discretionary trust will be determined by the trust instrument (the Will) and trust law. Fo
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On the disposition of a property (whether by way of conveyance, transfer or charge), the party making the disposition will normally provide a title guarantee which implies standard form covenants for title. A landlord may give a title guarantee when granting a lease, but this is rare in practice.
Coronavirus (COVID-19): The guidance detailing normal practice set out in this Practice Note may be affected by measures concerning process and procedure in the civil courts that have been introduced as a result of the coronavirus (COVID-19) pandemic. For guidance, see Practice Note: Coronavirus
Overlapping insurance policesThere are various reasons why an insured may end up with overlapping insurance cover, whether deliberately or otherwise.Examples include the situation where the insured takes the benefit of other insurance arranged by another party or where, in the commercial world, risk
STOP PRESS: The Corporate Insolvency and Governance Act 2020 contains provisions which, on a temporary basis (presently until 31 December 2020) impose significant limitations on the ability for a creditor to seek a winding-up order against a company. For further reading, see Practice Note: Corporate
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