Trust fund interest in building ownership

[Blib]

A quick question.

If a trust fund has an interest in the income of a commercial building would it show up on a basic search of the building's owners?

I assume 'no'. But, I'd like confirmation.

Thank you.

[Caddyshack]

Blib said:

A quick question.

If a trust fund has an interest in the income of a commercial building would it show up on a basic search of the building's owners?

I assume 'no'. But, I'd like confirmation.

Thank you.

It makes me wonder when you specify the income in bold. It makes me think the trust is not the legal owner?

[Blib]

I'm not sure. I don't own the building. I may be interested in buying it. The seller mentioned something in passing. I thought that there's somewhere I could check ?

[Caddyshack]

Blib said:

I'm not sure. I don't own the building. I may be interested in buying it. The seller mentioned something in passing. I thought that there's somewhere I could check ?

I would imagine that if you buy it the trust fund will no longer have any interest in it but if it is an actual owner the name of the trust or at least the trustees would be on the land reg doc.

[LooneyTunes]

Caddyshack said:

if it is an actual owner the name of the trust or at least the trustees would be on the land reg doc.

Not necessarily. It would depend on how they own it. For example if it’s owned by a company that is in turn owned by the trust then you won’t see the trust/trustees on the land registry docs.

The simplest solution is to ask the vendor for more information about the trust’s interest in the property.

[Caddyshack]

LooneyTunes said:

Caddyshack said:

if it is an actual owner the name of the trust or at least the trustees would be on the land reg doc.

Not necessarily. It would depend on how they own it. For example if it’s owned by a company that is in turn owned by the trust then you won’t see the trust/trustees on the land registry docs.

The simplest solution is to ask the vendor for more information about the trust’s interest in the property.

That is what I said though, if it is the ACTUAL owner, if a company owns it that is operated by the trust then it isn’t the actual owner, the company is. Either way, it doesn’t affect a buyer as the owner now will no longer be the owner. I cannot see a scenario where any owner can retain a right to the income post sale.

Edited by Caddyshack on Friday 2nd December 07:38

[Blib]

Thank you.