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last updated Aug 2023
As this is your first time creating a Unit Trust using Cleardocs, here are answers to common legal questions. They are provided by our lawyers, Maddocks.
This page will only appear once. You will find more information throughout the question interface and in our frequently asked legal questions page found under the resources menu above.
No, there is no settler in the Cleardocs Unit Trust.
No, but the trustee of a trust can. Click here to read more...
A trust cannot own units in a unit trust because the law says a trust is not a separate legal person.
Even so, the trustee of a trust (in his, her or its capacity as trustee) is capable of owning units — as long as you include the trustee's name and capacity. In this case, the trustee holds the units in the unit trust on trust for the beneficiaries of the trustee's own trust.
Yes, further units can be issued, sold or redeemed. Click here to read more...
The deed sets out:
No, but you may be able to use a similar deed. Click here to read more...
You can't simply replace a unit trust deed because to do so is likely to create a new trust, which has tax and stamp duty implications.
If the deed has been lost you need to consider the following steps in consultation with a lawyer: