{"id":2244,"date":"2018-10-23T05:20:08","date_gmt":"2018-10-23T03:20:08","guid":{"rendered":"http:\/\/stbb.co.za\/dev2\/?p=2244"},"modified":"2019-11-05T05:20:14","modified_gmt":"2019-11-05T03:20:14","slug":"when-a-trust-is-party-to-a-sale-agreement","status":"publish","type":"post","link":"https:\/\/stbb.co.za\/dev2\/when-a-trust-is-party-to-a-sale-agreement\/","title":{"rendered":"Thought of the Week | When a Trust is Party to a Sale Agreement"},"content":{"rendered":"<p><b>Problem scenario:<\/b><\/p>\n<p>The ABC Family Trust sells a sectional title unit to X. The trustees of the trust, authorised by valid Letters of Authority issued by the Master of the High Court, are A and his children B and C. A signed the agreement and provided the Letters of Authority and trust deed to the estate agent and purchaser, X. Trustee A subsequently reconsiders and, citing some dispute with the body corporate for thwarting efforts to obtain the levy clearance necessary for transfer, alleges that the Trust is unable to proceed. X consults his attorney as he believes the Trust is in breach.<\/p>\n<p><b>Solution:<\/b><\/p>\n<p>Scenarios similar to the above arise often in practice. The problem faced by X is that a Trust may only act through its trustees and as allowed by the trust deed. One trustee cannot act alone without the others. Unless A was authorised, in a written resolution granted by all the trustees beforehand, to sign the sale agreement, then the sale agreement was void. Depending on the circumstances, the purchaser may seek other remedies.<\/p>\n<p>Speak to your\u00a0<a href=\"mailto:info@stbb.co.za?subject=When%20a%20Trust%20is%20Party%20to%20a%20Sale%20Agreement%20%7C%20STBB%20Thought%20of%20the%20Week\" target=\"_blank\" rel=\"noopener noreferrer\">STBB<\/a>\u00a0conveyancer for assistance in all your property transactions, before putting pen to paper.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Problem scenario: The ABC Family Trust sells a sectional title unit to X. The trustees of the trust, authorised by valid Letters of Authority issued by the Master of the High Court, are A and his children B and C.<\/p>\n","protected":false},"author":36,"featured_media":936,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_exactmetrics_skip_tracking":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[110],"tags":[],"class_list":["post-2244","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-thought-of-the-week"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Thought of the Week | When a Trust is Party to a Sale Agreement - STBB<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/stbb.co.za\/dev2\/when-a-trust-is-party-to-a-sale-agreement\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Maryna Botha\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/when-a-trust-is-party-to-a-sale-agreement\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/when-a-trust-is-party-to-a-sale-agreement\\\/\"},\"author\":{\"name\":\"Maryna Botha\",\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/#\\\/schema\\\/person\\\/623606b2022560795816523a4fd0bfec\"},\"headline\":\"Thought of the Week | When a Trust is Party to a Sale Agreement\",\"datePublished\":\"2018-10-23T03:20:08+00:00\",\"dateModified\":\"2019-11-05T03:20:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/when-a-trust-is-party-to-a-sale-agreement\\\/\"},\"wordCount\":208,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/when-a-trust-is-party-to-a-sale-agreement\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/wp-content\\\/uploads\\\/2019\\\/06\\\/access-book-business-1329066-1.jpg\",\"articleSection\":[\"Thought Of The Week\"],\"inLanguage\":\"en-ZA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/when-a-trust-is-party-to-a-sale-agreement\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/when-a-trust-is-party-to-a-sale-agreement\\\/\",\"url\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/when-a-trust-is-party-to-a-sale-agreement\\\/\",\"name\":\"Thought of the Week | When a Trust is Party to a Sale Agreement - 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