My rights as a power reserved trustee

mirrorcarp_2

Hi everybody.
Before i start can  i say that i am trying to see a solicitor regarding my situation but i am struggling to get to see anyone for at least a couple of weeks so wondered if anybody on here would be able to help.
My father died 2 years ago and left his share of the house in trust for my brother and myself. The house was owned as tenants in common and his name is still on the title register.
My stepmother has a life interest in the property.
Our relationship is strained and there is no communication with her. 
I am a joint executor and trustee on his will along with the stepmother but decided to go power reserved at the time . I could not deal with the stress of my fathers death at the time.
She has applied for probate.
It has come to my attention that the house has been put on the market and is now sold STC.
Can she do this without my permission as my understanding is that i am still a trustee of the property and it states in the will that the house can only be sold with the written consent of all the trustees.
Have my powers  as a trustee of my fathers estate been given up when i went power reserved as an executor and should i have been kept up to date with her plans for the house. What happens to the sale money if the sale goes through. I have many concerns and i am seeking legal advise but i am struggling to get an appointement at this time and this is keeping me up at night.
Any advise received i would be very grateful for. Thanks ahead.

Keep_pedalling

I believe it is to late to do anything about your reserved powers as probate has already been granted, but reserving powers for probate does not reserve any powers the will granted you as a trustee of the immediate post death interest trust, and any sale cannot go ahead without the approval of the trustees. 

You need legal advice, but in the mean time I think it might be wise to advise the estate agents dealing with the sale that half the house is held in trust and that any sale cannot proceed without the agreement of the trustees.

poseidon1

Your predicament is a clear example and warning to all trustees of these types of property trusts that they must take positive action to make their trusteeship visible to  the world at large, to prevent what is now unfolding in your case.

The necessary actions would be:

1) Arranging with the Land Registry for the trustees of the Will to be registered as co legal owners of the property, alongside the life tenant. I would go on to state that trustees could be held negligent in failing to do so.

2) Arrange for a form A Restriction to be registered on title. This tells  the world at large that no disposition of the property by a sole proprietor ( in this case the step mother) can be made without involvement of the appointed trustees - see guidance below

https://www.gov.uk/government/publications/private-trusts-of-land/practice-guide-24-private-trusts-of-land#:~:text=A Form A restriction should also be,such a way that capital money arises.

As an aside the trust was also supposed to have been registered with HMRC with penalties for non compliance - see link below - 

https://www.gov.uk/guidance/register-a-trust-as-a-trustee

As for your immediate course of action, you must take rapid legal advice to  ensure that a form A Restriction be put in place  on the land register ASAP. This should  ensure that since a   sale is  proceeding ,  the solicitor handling the deal will  withhold   50% of the proceeds under the ownership and control of the trustees pending a decision of what the the deceased Will permits should occur with those proceeds ( eg reinvest in a replacement property, or reinvest in income producing assets for the life tenant). 

Given delays in your seeing your own solicitor, at the very least supply a copy of the Will to the solicitor handling the sale and point out this sale has taken place without your knowledge or permission, and should be delayed pending involvement of your own lawyer.

A cautionary tale for others out there.

mirrorcarp_2

Thankyou for taking the time to reply,its very much appreciated.
I have downloaded the title register and it would appear that a form A restriction is already in place. My father is still down as an owner on the land registry.
Myself and  the stepmother are the only 2 trustees named on the will , will this be flagged during the conveyancing. As 2 trustees are required to sell a house owned as tenants in common will the restriction mean that the acting solicitor will have to contact me ,or can she ignore the fact i am a trustee and appoint a 3rd trustee to continue the sale. I am hoping the restriction will be enough to ensure that things are done as they legally should be.
I dont know what she is trying to achieve here , if she manages to get the house sold what would happen to my fathers share of  the money. Would she have a legal responsibility to then  distribute it to the beneficiaries of the trust or are there other scenarios that could play out. 

Keep_pedalling

It won’t be flagged because at the moment no one knows the trust is in place, you must alert the solicitors involved in the sale. As you probably don’t know who this is contact the estate agent first thing Monday morning to alert them.

RAS

Get a copy of the will to the EA first thing tomorrow, and ring them as well. You haven't got time to waste.

Yorkshire_Dangermouse

I might also be finding out what the STC sales price is, and consider whether that is a fair value.  Ask the Estate Agent also who the prospective purchaser is.

Hopefully no shenanigans, but I'd want to reassure myself that this is a bona fide sale, at market value.