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Community group needs to set up a trust.

A2LUE42 · 2012-04-04 10:37:17

Can someone please point me in the right direction for what is involved in setting up a trust. It is to manage a community area, currently being 'managed' by liquidators and receivers, but should be a community open green area. Looking to understand what are the pro's and con's, as all involved would be doing so on a…

04-04-2012 10:37AM

#1

A2LUE42

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Can someone please point me in the right direction for what is involved in setting up a trust. It is to manage a community area, currently being 'managed' by liquidators and receivers, but should be a community open green area. Looking to understand what are the pro's and con's, as all involved would be doing so on a volunteer basis. Any help is much appreciated.

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#2 04-04-2012 10:55AM

nuac

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Consider a Co. Ltd by guarantee with appropriate object clauses.
It ensures annual meetings and community involvement, and perpetual succession. If the company is dissolved, property vests in the state.

Difficulty of appointing say three trustess etc is that in time they die or leave the area- I know of several such trusts which slid into private ownership.

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