Additionally, the deed includes covenants by the trustee, promising to act in the best interests of the beneficial owner, and may outline any restrictions on the trustee’s actions. It often contains provisions for the trustee’s remuneration, liability, and accountability, ensuring transparency and fairness in the management of the trust. The document also addresses the termination of the trust, detailing the conditions under which the trust can be dissolved. Overall, a Deed for a Simple Trust Over Shares provides a clear and structured framework for managing shares in a trust, protecting the interests of the beneficial owner while granting the trustee the necessary authority to manage the assets effectively.
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Deed for a Simple Trust Over Shares
KShs 4,200
A Deed for a Simple Trust Over Shares is a legal document that establishes a trust relationship between a trustee and a beneficial owner. This deed outlines the terms under which the trustee will hold and manage the shares on behalf of the beneficial owner. It typically includes key elements such as the declaration of trust, where the trustee acknowledges holding the shares in trust, and the appointment and removal of trustees, detailing the process for changing trustees if necessary. The deed also specifies the powers and authority of the trustee, ensuring they can manage the shares effectively while adhering to the trust’s terms.
