We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Help Needed With Legal Rights On A Will
Options
Comments
-
DVardysShadow wrote: »A and C have acted correctly. B defrauds C by misrepresenting A's interests. It is between B and C. C's losses cannot be put onto A.
Let me refer you to S.17 of Trustee Act 1925, which absolves the lenders from a duty to the trust. http://www.legislation.gov.uk/ukpga/Geo5/15-16/19
I am sure that this has come up loads of times in the 1000 years that trusts have existed, and the 1925 act probably just enshrines case law up to that point. Anyway, I think it puts the lenders in the clear, which just goes to show that you should choose your trustees very carefully.No reliance should be placed on the above! Absolutely none, do you hear?0 -
Let me refer you to S.17 of Trustee Act 1925, which absolves the lenders from a duty to the trust. http://www.legislation.gov.uk/ukpga/Geo5/15-16/19
I am sure that this has come up loads of times in the 1000 years that trusts have existed, and the 1925 act probably just enshrines case law up to that point. Anyway, I think it puts the lenders in the clear, which just goes to show that you should choose your trustees very carefully.17 Protection to purchasers and mortgagees dealing with trustees.E+W
No purchaser or mortgagee, paying or advancing money on a sale or mortgage purporting to be made under any trust or power vested in trustees, shall be concerned to see that such money is wanted, or that no more than is wanted is raised, or otherwise as to the application thereof.
I read that as probably not applying, on the grounds that the loan was not made to a trust but to an individual acting as though there were no trust.
Obviously some assumptions there as to what actually happened.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Most will trusts have powers for the trustees to mortgage the trust assets, so that was perfectly legal, probably. The lenders are covered by S.17. The real question is what happened to the money raised by the mortgage, and I fear that that is where the Police may become involved - only they may be more likely to understand and react if a solicitor explains to them what's happened.
Anyway, this is all surmise, and perhaps things aren't so bad. Perhaps the daughter misunderstood her position and will be able to repay the money? Who knows?No reliance should be placed on the above! Absolutely none, do you hear?0 -
Most will trusts have powers for the trustees to mortgage the trust assets, so that was perfectly legal, probably. The lenders are covered by S.17. The real question is what happened to the money raised by the mortgage, and I fear that that is where the Police may become involved - only they may be more likely to understand and react if a solicitor explains to them what's happened.
Anyway, this is all surmise, and perhaps things aren't so bad. Perhaps the daughter misunderstood her position and will be able to repay the money? Who knows?
I suspect that the lenders have not been informed because I would think that they would be writing to the beneficiary of the trust.
Although where the money went is a very relevant question, I do think it is more important to establish whether the 1925 Act applies. If it does not, OP's father will probably be able to remain for the rest of his days without being too troubled by the lender.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
This has taken me to the limits of my knowledge, and in any case it's all speculative as we don't really know what's happened. I wish the OP all the best, and I suggest that he does not delay seeing a solicitor. I think there's a consensus on that last point, if nothing else!No reliance should be placed on the above! Absolutely none, do you hear?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.7K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards