Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Trustee definition

What does Trustee mean? A trustee is the person or company appointed under a trust deed, will, statute or by the court to hold and manage trust property and carry out the trust’s purposes for the beneficiaries. Trustees owe fiduciary duties, including to act loyally, for proper purposes, within their powers, with reasonable care and skill, and impartially between beneficiaries. They typically have statutory and express powers to invest prudently, delegate, insure, obtain advice, and distribute, and are personally liable for breach of trust. Properly incurred costs are reimbursable and trustees are generally entitled to an indemnity from trust assets; remuneration depends on the...

Securing a trustee in bankruptcy’s interest in real property: immediate, formal and practical post-appointment actions (England and Wales)

Published by a LexisNexis Restructuring & Insolvency expert

Practice notes

This Practice Note

This Practice Note outlines the early, practical key actions a Trustee in bankruptcy (Trustee) ought to take on appointment to safeguard their proprietary stake in the Bankrupt’s assets—particularly real property such as the bankrupt’s family home. It does not cover which assets and interests vest in the trustee, the process by which they identify and realise that stake, or when equitable accounting or the equity of exoneration might arise as issues or disputes of concern. For more on these topics, consult the following Practice Notes:

Property that vests in the trustee in bankruptcy on Bankruptcy and how the trustee in bankruptcy determines the scope of their interest in it
Equitable accounting—how it operates in practice
The equity of exoneration and its practical application
Possession and sale applications concerning a bankrupt’s family home

This Practice Note likewise does not set out in detail what occurs immediately after a bankruptcy order is made—as the official receiver (OR) undertakes most of those tasks—nor does it address the trustee’s powers, duties and functions...

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Web page updated on 21/05/2026

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