Clause—gift of property on life interest trust

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  • Clause—gift of property on life interest trust

Clause—gift of property on interest'>life interest trust

    1. 1

      Gift of property

      1. 1.1

        I give free of tax my property known as [full address and description of the property] or such other property which I may own as my main residence at the date of my death (the Property) together with all furniture, soft furnishings and articles of domestic, household or garden use or ornament in or about the Property (the Contents) to my Trustees on the following trusts.

      1. 1.2

        In this clause the Property Fund shall mean the Property and the Contents and all property from time to time representing the same.

      1. 1.3

        My Trustees shall hold the Property Fund for [full name of life tenant] of [address of life tenant] (the Life Tenant) for life and after the death of the Life Tenant for [name(s) of remaindermen] absolutely.

      1. 1.4

        My Trustees shall impose on the Life Tenant as a condition of the Life Tenant’s residence in the Property and use of the Contents that the Life Tenant shall pay all outgoings in respect of the Property and shall keep the Property and Contents in good repair (in the case of the Contents

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