The trust explained by the FT
www.ft.com/content/88bc2f52-8ca5-11e7-a352-e46f43c5825d
The gin-quaffing pair have made their love nest in the Dower House, although Justin threw a wobbly when he found out that the property was actually owned by Lillian’s ex, the village bad’un Matt Crawford. Fleeing his creditors, Matt placed the property in trust. He and his dubious-sounding solicitor are the trustees, although Lillian is the sole beneficiary.
At Lillian’s behest, Matt has now agreed to sell the Dower House to Justin (at market value, plus 10 per cent). However, long before Lillian’s champagne soirée at Grey Gables with Matt, professional listeners sensed an unhappy ending.
As for the property trust, Ben Rowe, Archers’ fan and employed barrister in the commercial litigation department at Stewarts Law, says it is quite common for a settlor to be a trustee of a trust — so long as they are not also the sole beneficiary, as then the trust would serve no purpose
“In many situations, where there is a bare trust (which this appears to be) the beneficiary, Lillian, can invoke the 1841 case of Saunders v Vautier and demand that the trustees move the property directly into their name, and terminate the trust,” he says.