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Buachaill
Buachaill, Barrister
Category: Law
Satisfied Customers: 10591
Experience:  Barrister 17 years experience
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I am a trustees with 3 others on a 25 year lease local

Customer Question

I am a trustees with 3 others on a 25 year lease for a local sports club , one of the other trustees has died do I need to do anything
Submitted: 1 year ago.
Category: Law
Expert:  Buachaill replied 1 year ago.
1. Dear Colin, be aware that you don't actually have to do anything when one of four trustees dies. This is because a trust is valid with only two trustees. So here, where there are three trustees, there is no problem legally. However, I would suggest you put it to the sports club at the next AGM that they appoint an additional trustee to bring the number of trustees back up to four. However, be aware that this is technically speaking not necessary. But I would suggest you do it because someone else might then and then there would only be the minimum number required legally, of two trustees.
Expert:  Buachaill replied 1 year ago.
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