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Deed Of Bare Trust

Deed Of Bare Trust Template for Ireland

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Key Requirements PROMPT example:

Deed Of Bare Trust

"I need a Deed of Bare Trust to be drafted under Irish law for holding a residential property in Dublin, with two trustees and a single beneficiary, with completion targeted for March 2025."

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Document background
The Deed of Bare Trust is a specialized legal instrument used in Ireland when there is a need to separate legal and beneficial ownership of assets while maintaining the beneficiary's absolute control. This document is commonly utilized in property transactions, family arrangements, tax planning, and corporate structuring. It clearly defines the relationship between the trustee (who holds legal title) and the beneficiary (who has beneficial ownership and control), ensuring compliance with Irish trust law and regulatory requirements. The deed is particularly useful in scenarios involving property holding, nominee arrangements, or when maintaining confidentiality of beneficial ownership while meeting legal obligations. This document includes all necessary provisions required under Irish law for the creation and operation of a bare trust, including trustee appointments, property descriptions, and execution requirements.
Suggested Sections

1. Parties: Identifies and defines the Settlor, Trustee(s), and Beneficiary/Beneficiaries with their full legal names and addresses

2. Background: Recitals explaining the context and intention to create a bare trust

3. Definitions: Defines key terms used throughout the deed including Trust Property, Trust Period, and other relevant terms

4. Declaration of Trust: Formal declaration establishing the bare trust and confirming the Trustee holds the Trust Property for the absolute benefit of the Beneficiary

5. Trust Property: Detailed description of the property being held in trust, with reference to the relevant schedule

6. Trustee Powers and Duties: Limited statement of trustee powers appropriate for a bare trust, including duty to follow beneficiary instructions

7. Beneficiary Rights: Confirmation of the beneficiary's absolute right to the capital and income of the trust property

8. Duration of Trust: Specifies the trust period and any termination provisions

9. Governing Law: Confirms the deed is governed by and construed in accordance with Irish law

10. Execution: Formal execution clause meeting Irish law requirements for deeds

Optional Sections

1. Appointment and Removal of Trustees: Include when flexibility in changing trustees may be required in the future

2. Bank Account Provisions: Include when trust property includes or may include cash requiring bank account management

3. Tax Provisions: Include when specific tax treatment needs to be addressed or clarified

4. Severability: Include when there's concern about potential invalidity of certain provisions

5. Multiple Beneficiaries Provisions: Include when there is more than one beneficiary to clarify their respective interests

6. Powers of Attorney: Include when trustees may need to delegate powers in specific circumstances

Suggested Schedules

1. Schedule 1 - Trust Property: Detailed description and/or inventory of all property held in trust

2. Schedule 2 - Initial Trust Fund: Details of any initial monetary settlement (if applicable)

3. Schedule 3 - Property Documents: List of title documents, certificates, or other relevant documentation relating to the trust property

4. Appendix A - Trustee Acceptance Form: Form for trustees to formally accept their appointment and duties

5. Appendix B - Beneficiary Details: Confidential schedule containing full details of beneficiaries and their respective interests

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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