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Property Trust Deed
"I need a Property Trust Deed to establish a family trust for my Lagos residential property, with my three adult children as beneficiaries and my brother as trustee, ensuring equal distribution of rental income and including provisions for property maintenance and eventual transfer to my children by January 2025."
1. Parties: Identifies and defines the Settlor, Trustee(s), and Beneficiaries with their full legal names and addresses
2. Background: Recitals explaining the context and purpose of the trust, including the Settlor's intention to create the trust
3. Definitions: Defines key terms used throughout the deed including 'Trust Property', 'Trust Period', 'Beneficiaries', etc.
4. Declaration of Trust: Formal declaration establishing the trust and transferring the property to the trustees
5. Trust Property: Detailed description of the property being placed in trust
6. Trustee Powers: Comprehensive list of powers granted to trustees in managing the trust property
7. Trustee Duties and Responsibilities: Specific obligations and responsibilities of trustees in administering the trust
8. Beneficiaries' Rights: Rights and entitlements of the beneficiaries under the trust
9. Trust Period: Duration of the trust and conditions for its termination
10. Administration Provisions: Practical aspects of trust administration including meetings, decision-making processes, and record-keeping
11. Variation and Termination: Circumstances and procedures for modifying or ending the trust
12. Governing Law and Jurisdiction: Specifies Nigerian law as governing law and relevant jurisdiction for disputes
1. Protector Provisions: Include when a trust protector is appointed to oversee trustees' actions and provide additional security
2. Investment Provisions: Detailed investment powers and restrictions, necessary for trusts with significant liquid assets
3. Income Distribution Rules: Specific rules for income distribution when complex distribution arrangements exist
4. Successor Trustee Provisions: Detailed provisions for appointment of successor trustees when specific succession planning is required
5. Arbitration Clause: Alternative dispute resolution provisions when parties prefer to avoid court proceedings
6. Force Majeure: Provisions dealing with unforeseen circumstances affecting trust administration
7. Tax Provisions: Specific tax planning provisions when trust has significant tax implications
1. Schedule 1 - Trust Property Details: Comprehensive description of property including title documents, registration details, and current market value
2. Schedule 2 - Beneficiary Information: Full details of beneficiaries including shares or interests in the trust
3. Schedule 3 - Trustee Remuneration: Details of any fees or compensation payable to trustees
4. Schedule 4 - Investment Guidelines: Specific investment parameters and restrictions if applicable
5. Appendix A - Property Documents: Copies of relevant property documentation including title deeds and surveys
6. Appendix B - Required Consents: Copies of any necessary regulatory or third-party consents
7. Appendix C - Meeting Procedures: Detailed procedures for trustee meetings and decision-making processes
Authors
Real Estate
Financial Services
Banking
Wealth Management
Family Office
Construction
Property Development
Legal Services
Trust Services
Investment Management
Legal
Real Estate
Property Management
Trust Administration
Compliance
Risk Management
Corporate Secretariat
Wealth Management
Asset Management
Investment
Legal Counsel
Property Manager
Trust Administrator
Estate Manager
Wealth Manager
Real Estate Director
Compliance Officer
Company Secretary
Trust Officer
Property Lawyer
Land Administrator
Asset Manager
Investment Manager
Risk Manager
Family Office Manager
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