Interest in Possession Trust - ongoing administration

dragonflyangel

I am the lead trustee of an Interest in Possession trust which was created when my sister died.  It gives her husband the right to remain in their house until his death.  A Will trust and a Property Trust have been registered with HMRC and I have written confirmation of this from HMRC with Unique Reference Numbers for both trusts.
My sister's husband intends to stay in the property so there will be no trust income to deal with.
My understanding is that no further action is required to administer the trust until either my sister's husband wishes to move out of the property or he dies.  I have read about the need to "claim" the trust but I think that this only applies if an agent is appointed to deal with the trust?
I would appreciate any input as to whether my interpretation is correct.

tls123

Does the land registry need to reflect that the trustees own the house just thinking of future problems if your sisters husband passes, presumably the house would then be sold 

dragonflyangel

tls123 said:

Does the land registry need to reflect that the trustees own the house just thinking of future problems if your sisters husband passes, presumably the house would then be sold 

The property is currently unregistered but the husband is in the process of getting it registered and will add the trustees to the register so that should take care of the Land Registry requirements.
As far as I can make out, as the Trust has been formally registered with HMRC I don't have to do anything else at present?

tls123

If the trust has been registered with HMRC and no income is payable (therefore doesn’t need to be declared) I think your understanding is correct that you don’t need to do anything further. I would continue to keep everything as simple as possible. By managing this yourselves as trustees. Good that the land registry has been thought about/ addressed.