Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

security definition

What does security mean? In legal practice, security means money or other assets provided as a guarantee that a legal obligation will be performed, with forfeiture if it is not. In criminal proceedings, it most often refers to a cash deposit or equivalent required as a condition of bail to secure a defendant’s attendance at court and compliance with bail; failure to surrender may lead to forfeiture. The concept and procedures are set by bail legislation and court rules in each jurisdiction. Practice varies: in England & Wales and Northern Ireland, courts commonly take recognisances, with or without sureties, and may require a...

Taking Security over Trust Assets: Trustees’ Borrowing Powers, Land Overreaching, Regulatory Issues and Documentation (England and Wales)

Published by a LexisNexis Banking & Finance expert

Practice notes

Trustees and trust Assets

In numerous ways, obtaining security from trustees over trust property resembles taking security from chargors who hold the applicable asset outright. Factors that arise when securing obligations from an individual equally arise when securing obligations from individual trustees, and the same principle applies to their corporate counterparts. This Practice Note does not aim to address matters of general application when taking security; instead, it concentrates on particular points to keep in view when security is taken over trust assets. It highlights nuances specific to trust-held assets for lenders and advisers. This Practice Note addresses the following topics:

the nature of trusts
the powers of trustees to borrow and grant security
specific issues to assess where security is taken over land
regulatory aspects, and
documentary considerations

Please note, this Practice Note deals with issues concerning the taking of security from trustees generally and not charity trustees. For discussion relevant to charity trustees, see Practice Note: Mortgages by charity trustees. Before turning to the particular points that arise on taking security, it is helpful to reflect on the character of the relationship between trustees and trust assets. By way of reminder, a trust does not have its own...

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Martin Blake

Farrer & Co

Martin is a partner in the banking and financial services team at Farrer & Co. He has broad experience in a range of domestic and international banking and finance matters, including general corporate and individual lending, workouts and restructuring, property finance and acquisition finance. Martin advises lenders, borrowers and sponsors on syndicated, bilateral, secured, unsecured and structured financing transactions. He is familiar with dealing with a variety of assets used as collateral, including land, intellectual property, stocks and shares, revenue streams and other contractual rights....

Web page updated on 21/05/2026

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