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F E Smith
F E Smith, Advocate
Category: Law
Satisfied Customers: 9659
Experience:  I have been practising for 30 years.
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A Company writes the following in answer to a letter asking

Resolved Question:

A Company writes the following in answer to a letter asking for the transfer of the freehold as per the lease. The freehold could not be transferred because they were held as security by the bank.
" In the meantime we agree to hold the freehold deeds to your order and transfer this to the Management Company as agreed in the apartment leases as soon as the bank borrowings are repaid."
Does this statement constitute a TRUST
thank you
Tom
Submitted: 1 year ago.
Category: Law
Expert:  F E Smith replied 1 year ago.

In my opinion, it does stop it creates a trust whereby whoever is holding the freehold deeds hold them on trust for the benefit of the management company

Can I clarify any points arising from this for you?

Customer: replied 1 year ago.
please. How strong is your opinion. Fore instance Would it hold up to the Crown Estates who we are discussing it with as the company went into administration prior to transferring the lease
Customer: replied 1 year ago.
Are you still on line regarding the question of a trust
Expert:  F E Smith replied 1 year ago.

No lawyer barrister or solicitor opinion is ever binding on the court except the ruling of the judge or of a higher court.

We can only give you an opinion. Different lawyers have different opinions and sometimes, clients go to court and lose even though their lawyers have told them they had a good chance of success.

Remember the Crown has unlimited resource to go to court and hence, litigating against the Crown is not to be underta***** *****ghtly. Are you dealing now with the Treasury Solicitor under Bona Vacantia?

It would help if we had the background in full please

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