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Joint Tenancy Trust Agreement
"Need a Joint Tenancy Trust Agreement for three siblings inheriting a residential property in London, with equal beneficial interests and specific provisions for property maintenance costs, to be effective from March 2025."
1. Parties: Details of trustees and beneficiaries including their full names, addresses and roles
2. Background: Context and purpose of the trust arrangement, including the property being held in trust
3. Definitions: Key terms used throughout the agreement including 'Property', 'Trustees', 'Beneficiaries', and 'Trust Period'
4. Declaration of Trust: Formal creation of the trust and specification of beneficial interests, including joint tenancy provisions
5. Trustee Powers and Duties: Specific authorities and obligations of trustees under the Law of Property Act 1925 and Trustee Act 2000
6. Property Management: Rules for managing and maintaining the trust property, including decisions about repairs and improvements
7. Duration and Termination: Term of the trust and circumstances for termination, including survivorship provisions
1. Investment Powers: Specific investment authorities for trustees when trust includes significant financial assets
2. Occupancy Rights: Rights of beneficiaries to occupy property when trust property includes residential property
3. Delegation Provisions: Rules for delegation of trustee powers when trustees require flexibility to delegate responsibilities
1. Property Schedule: Detailed description of trust property including title number and registered address
2. Beneficial Interests Schedule: Specification of beneficiaries' shares and rights under the joint tenancy
3. Powers of Investment: Detailed investment guidelines and restrictions for trustee reference
4. Property Management Rules: Specific rules for property maintenance, use, and occupation
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