Interim trust deed meaning

Trustee in trust deed for creditors Authority to sell or lease must be expressly stated within the trust deed for creditors. If absent, recourse is to statutory powers under: section 4 of the Trusts (Scotland) Act 1921 section 2 of the Trusts (Scotland) Act 1961 Interim trustee in bankruptcy An interim trustee in bankruptcy lacks authority to contract, sell, or lease unless the court has specifically granted that power...

In this issue: Residential tenancies Repairing obligations and dilapidations Enforcing security and property insolvency Disputes and remedies Key developments and horizon scanning Additional Property Disputes updates LexTalk® Property Disputes: a Lexis®Nexis community Daily and weekly news alerts Dates for your diary Residential tenancies An end to unmeritorious tenancy deposit claims (Lowe v The Governors of Sutton’s Hospital in Charterhouse) The Court of Appeal in Lowe v The Governors of Sutton’s Hospital in Charterhouse [2025] EWCA Civ 857 upheld the refusal of a substantial claim under the tenancy deposit regime. The central question was whether a prescribed information certificate that, first, contained a mistake and, second, lacked a signature nevertheless complied with section 213 of the Housing Act 2004 (HA 2004) and the related 2007 Order. Applying the Mannai principle and adopting a purposive reading of the statutory scheme, the court held that the certificate was sufficient to meet those requirements. This...

In this issue: Wills Court of Protection UK taxes for Private Client HMRC Manuals updates Tax avoidance, evasion and non-compliance Budgets and Finance Bills Family businesses and ownership structures Insolvency—Private Client Charity and philanthropy Contentious trusts and estates Pensions, insurance and tax efficient investments International Additional Private Client updates this week Question of the week Daily and weekly news alerts LexTalk®Private Client: a Lexis+® community New and updated content Dates for your diary Trackers Useful information Wills Will set aside for lack of testamentary capacity and undue influence (Oliver v Oliver) William Oliver passed away on 25 May 2018, aged 86. A widower, he was survived by five children. His youngest daughter, Jane, sought to have his 2015 will overturned on the bases that: (a) execution failed to meet the formal requirements under section 9 of the Wills Act 1837; (b) he lacked...

In this issue: Probate Powers of attorney and advance decisions Court of Protection Elderly and vulnerable clients UK taxes for Private Client HMRC Manuals tracker Tax avoidance, evasion and non-compliance Insolvency—private client Charity and philanthropy Contentious trusts and estates Private Client in Scotland International Question of the week Additional Private Client updates this week LexTalk®Private Client: a Lexis®Nexis community Daily and weekly news alerts New and updated content Dates for your diary Trackers Latest Q&As Useful information Probate Agreement to waive forfeiture rule following assisted death On 16 June 2025, the High Court approved an order on the executor’s application, supported by those who might otherwise benefit under the forfeiture rule, in the estate of the late David Walter Peace. Mr Peace died at the Dignitas Clinic in 2021. All beneficiaries were adults with capacity and collectively agreed the estate should be...

This is a glossary of common words and expressions used in Scottish insolvency law with the nearest England and Wales insolvency law equivalent (where relevant) Absolute insolvency Meaning: When a person’s liabilities are greater than the overall worth of their assets. Nearest English equivalent: Balance sheet insolvency. Accountant in Bankruptcy (AiB) Meaning: A Scottish Government agency overseeing the regulation of personal bankruptcy (sequestration and Protected Trust Deeds) in Scotland, and able to serve as trustee in sequestrations where no insolvency practitioner is appointed. It also maintains records of corporate insolvencies in Scotland (receivership and liquidations only) but does not perform the role of Official Receiver. See Practice Note: Scotland: the Accountant in Bankruptcy. Nearest English equivalent: N/A. Accountant of Court Meaning: A court-appointed officer within Scottish Courts and Tribunals who administers funds consigned to the Accountant of Court pursuant to a Court of Session interlocutor or during liquidation proceedings. They oversee Judicial Factors or Administrators appointed by the Court to manage estates...

This glossary sets out numerous expressions regularly encountered in the restructuring & insolvency sphere. Words shown in bold within definitions are themselves explained in other entries in this glossary as well. A Article X The MLIJ contains a single provision named Article X, aimed at jurisdictions that have already implemented the MLCBI, like England, or are weighing its adoption. Article X states: ‘Not withstanding any prior interpretation to the contrary, the relief available under [insert a cross-reference to the legislation of this State enacting Article 21 of the UNCITRAL Model Law on Cross-Border Insolvency] includes recognition and enforcement of a judgment’ (see Practice Note: UNCITRAL model law on recognition and enforcement of insolvency-related judgments (MLIJ): Article X). Asset-backed security (ABS) A form of security anchored by asset pools, for example loans, leases, and credit card receivables. Assimilated law From 1 January 2024, ‘retained law’ has been retitled ‘assimilated law’. The body of domestic law originally arising from EU obligations, created by the European...

This glossary outlines commonly used terms and phrases in Scottish property law, together with the closest England and Wales equivalents (where appropriate), and signposts guidance on differences between Scottish property transactions and law, as well as useful property-related websites. A non domino disposition Meaning A disposition granted by someone with no title to the property. Formerly, this could regularise a defective title where, after registering a non domino disposition, the grantee possessed the property openly, peaceably and without judicial interruption for ten years. Since 8 December 2014, with the commencement of the Land Registration etc (Scotland) Act 2012 (LRE(S)A 2012), a party seeking to obtain title to land where no owner can be traced must comply with the prescriptive claimant provisions in LRE(S)A 2012, ss 43–45 before submitting an a non domino disposition for registration. Nearest English equivalent None, although possessory title is similar. Action of specific implement Meaning A court action seeking an order compelling a party to perform a specified...

This Deed is entered into on the [ insert day ] day of [ insert month ] 20[ insert year ]... Parties [ Insert full company name ], a company incorporated in England and Wales with company number [ insert number ], whose registered office is at [ insert registered company address ] (the ‘Principal Company’); and [ [ Insert full name of company ] incorporated in England and Wales with company number [ insert number ] and whose registered office is at [ insert registered company address ] OR [ insert individual name(s) ] of [ insert individual address(es) ] ] (the ‘Trustees’). Background: (A) [ Insert full name of scheme ] (the ‘Scheme’) came into being under an [ interim OR definitive ] deed dated [ insert date ]. (B) The Scheme is at present governed by a trust deed dated [ insert date ], as varied by the deeds executed thereafter [ , particulars of which appear...