Jump to content


  • Tweets

  • Posts

    • Please please help we were miss sold full fibre by EE July 22  Install couldn’t go ahead no equipment sent and no. Survey it was hell  foind out no full fibre in road so we had to go back to cooper no choice we involved. Ceo and they put in a man from customer resolution s  he was vile he told me I had to go to engineers  something very odd about the ex resolution s in bt basically they took my drive up said they Would put ducting in ready for full fibre we have got £ 40 for a hours upon hours phones stress and more told to go to ombudsman  then bill was £35 we called twice told it was that price as they had treated us appalling two weeks later all sky package gets pulled we call again our bill goes to 165 the next two weeks was hell trying to get yo bottom why it’s off our package it was all on in the end I spent a day on the phone  341 mins was the call anyway I got to the bottom it was this resolution man coveting up the other issue another deadlock  to cover it all up  they hide data  ee did so couldn’t get the miss sell in writing I have now only from sept  Basically now we tried getting full fibre and they have found my drive had to be taken up again which has sunk .  The engineer has placed the wrong ducting again under my drive and need s to be taken to again apparently and the pipe sticks up middle of the drive near gate not behind look so odd it’s a big as a drain pipe open to water and it’s below touching the electrical cables to hot tub . I was sent a letter from the ex resolution to say I had stopped the work  I haven’t  it’s so sadistic she covering up for her mate in that team as the orginal install he didn’t check it had been done correctly  I took to Twitter and posted on open reach they ignored me then after 3 calls of two weeks they sent a engineer bt ignored me ceo emails blocked tag on Twitter unanswered then we get someone from twitter send a engineer he written report to say it’s dangerous since we have  had a  letter to say our problem can not be resolved  then a email to say sorry we are leaving and we can’t get into our account Bt will not talk to us ofcom tells us nothing they can do Citzens advice said go to the police  we can’t go back to virgin due so mass issue with them only option is sky  but point is they make out we have canceled we haven’t we have this mess on our drive dangeous work we are in hell  it’s like she covering up for this collegue it’s all very odd I am disabled and they like played mentaly with me open reach say bt resolved the issue no they have not  I recon they have terminated us making our we have  to hide it from mgt  Help it’s hell I don’t sleep we have 29 may we have tried  calling they just ignore me  at first they are so lovely as they say I am then they go to nnamager and say we can’t say anything to you end call  Scared police are rubbish I need help even typing is so painfull  Thankyou  anyone hello be so grateful     
    • There's a thread somewhere about someone sending the baillifs against Wizzair that is quite hilarious. I would love to see someone do the same to Ryanair. Question is, should you be the one to take that role. You are entitled to the £220, if your flight was from the UK. If it was TO the UK I suppose it is more of a grey area... though the airlines I know have been using £220 as standard. Not that surprising for Ryanair, the worst cheapskates in the universe, to go for the lower amount, and if you forward this to the CEO he will probably have a jolly good laugh and give his accountants a verbal bonus. After all he's the one who said and I paraphrase "F*** our customers, they'll fly with us again anyway". While we would all love to see Ryanair get wooped in court again, I have to join my fellow posters in thinking it's not worth the hassle for (hypothetically) £7 and not sure it will expedite the payment either. It's already an achievement that you got them to accept to pay.
    • The US competition watchdog has taken legal action to stop Tapestry's $8.5bn takeover of rival Capri.View the full article
    • thank you you mean you got a notice of discontinuance? dx  
    • Thanks for your interest dx100. Didn’t reach a hearing. Although they filed court papers, they withdrew a few days beforehand, and admitted it was statute barred and I have it in writing that they say the matter is now closed. Once again, many thanks for all your help.
  • Recommended Topics

  • Our picks

    • If you are buying a used car – you need to read this survival guide.
      • 1 reply
    • Hello,

      On 15/1/24 booked appointment with Big Motoring World (BMW) to view a mini on 17/1/24 at 8pm at their Enfield dealership.  

      Car was dirty and test drive was two circuits of roundabout on entry to the showroom.  Was p/x my car and rushed by sales exec and a manager into buying the mini and a 3yr warranty that night, sale all wrapped up by 10pm.  They strongly advised me taking warranty out on car that age (2017) and confirmed it was honoured at over 500 UK registered garages.

      The next day, 18/1/24 noticed amber engine warning light on dashboard , immediately phoned BMW aftercare team to ask for it to be investigated asap at nearest garage to me. After 15 mins on hold was told only their 5 service centres across the UK can deal with car issues with earliest date for inspection in March ! Said I’m not happy with that given what sales team advised or driving car. Told an amber warning light only advisory so to drive with caution and call back when light goes red.

      I’m not happy to do this, drive the car or with the after care experience (a sign of further stresses to come) so want a refund and to return the car asap.

      Please can you advise what I need to do today to get this done. 
       

      Many thanks 
      • 81 replies
    • Housing Association property flooding. https://www.consumeractiongroup.co.uk/topic/438641-housing-association-property-flooding/&do=findComment&comment=5124299
      • 161 replies
    • We have finally managed to obtain the transcript of this case.

      The judge's reasoning is very useful and will certainly be helpful in any other cases relating to third-party rights where the customer has contracted with the courier company by using a broker.
      This is generally speaking the problem with using PackLink who are domiciled in Spain and very conveniently out of reach of the British justice system.

      Frankly I don't think that is any accident.

      One of the points that the judge made was that the customers contract with the broker specifically refers to the courier – and it is clear that the courier knows that they are acting for a third party. There is no need to name the third party. They just have to be recognisably part of a class of person – such as a sender or a recipient of the parcel.

      Please note that a recent case against UPS failed on exactly the same issue with the judge held that the Contracts (Rights of Third Parties) Act 1999 did not apply.

      We will be getting that transcript very soon. We will look at it and we will understand how the judge made such catastrophic mistakes. It was a very poor judgement.
      We will be recommending that people do include this adverse judgement in their bundle so that when they go to county court the judge will see both sides and see the arguments against this adverse judgement.
      Also, we will be to demonstrate to the judge that we are fair-minded and that we don't mind bringing everything to the attention of the judge even if it is against our own interests.
      This is good ethical practice.

      It would be very nice if the parcel delivery companies – including EVRi – practised this kind of thing as well.

       

      OT APPROVED, 365MC637, FAROOQ, EVRi, 12.07.23 (BRENT) - J v4.pdf
        • Like
  • Recommended Topics

Insuring a property held in trust


style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 2071 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

Insuring a property held in trust

 

I live in a property held in a Deed of Trust, set up by my parents as the original trustees. A trust fund from which I am the beneficiary, the life tenant. The trust is held to one third to my children, one third to my sister or children and one third to my brother or children. The original trustees: my mother is deceased and my father is old and ill perhaps not competent anymore. The trust is irrevocable and intended to for the rest of my life.

 

My question is can I insure the property (being the beneficiary) simply as the policyholder.

 

None of the high street, telephone insurance companies seem to understand what a trust deed is.

Link to post
Share on other sites

Ok this is faily complicated.

 

I am involved in a similar trust deed for a property that a relative has left, in which they have a life tenant.

 

Under the trust, the life tenant is required to Insure the Building and to make sure it is maintained.

 

If your trust is the same, you can just put the Buildings Insurance in your name.

 

You would not even need to mention to Insurers about the trust arrangement, as that would just complicate matters.

 

The Contents Insurance would also just be in your name.

 

If the trust does not make mention of you needing to Insure the property or to maintain it or you having any beneficial interest in the property, then the people with the beneficial interest ( your relatives) will need to sort out the Buildings Insurance.

Edited by dx100uk
Quote

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group

 

If you want advice on your thread please PM me a link to your thread

Link to post
Share on other sites

Thank You,

 

The purpose of the trust is to make land available for occupation by the life tenant. The trust fund is the property also money and investments from time to time representing it .It does not mention who should insure it, or beneficial interest.

 

Surley I have a beneficial interest in the property as it is for my life tenancy; I have an insurable interest?

 

Trying to explain the workings of a trust fund to the avenge telephone operator at an insurance call centre is a real headache and yes I'm worried that its just complicating things, and I’m sure my relatives would not like to insure the building every year for me.

Edited by dx100uk
Quote
Link to post
Share on other sites

Just insure it in your name and don't bother to explain.

 

As far as you know you have insurable interest and therefore you have to insure it. If I were you,

 

I would suggest that at some stage you speak to a solicitor about all the different issues.

 

Over the coming years, you could spend thousands on maintaining the property and the other people mentioned in the trust would not have contributed a penny.

 

It depends on how you feel about this and whether your attitude/position would ever change. Families do fall out over property matters.

 

It would be interesting what the land registry shows as the ownership of the house.

 

An issue separate from Insurance, is what would happen if you could no longer live in the property and had to move.

 

From what you have said about the trust, you could never sell the house and use the funds to buy another house.

 

In the event of you needing a care home, it would seem that the house would not be taken into account, as an asset that you owned.

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group

 

If you want advice on your thread please PM me a link to your thread

Link to post
Share on other sites

Hello there.

 

I agree with UB about seeing a lawyer to ensure you are protected. Make sure it's a specialist one though, wills and trusts often go together.

 

It's a long time since I studied trusts, but I have a vague recollection that trusteeship passed on death or incapacity.

 

My best, HB

Illegitimi non carborundum

 

 

 

Link to post
Share on other sites

Perhaps the solicitor does not feel it is necessary to change the land registry record to reflect the trust arrangement.

 

Perhaps this trust arrangement and change of ownership does not come into force until your parents have both passed away.

 

If it is the latter, than your parents should arrange the Buildings Insurance in their names.

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group

 

If you want advice on your thread please PM me a link to your thread

Link to post
Share on other sites

Leaving the wrangles till after the event is a big gamble. Insurance is based on an insurable interest.

 

The insurance company would like to prevent double indemnity as well. It may only require a simple (to a layman with no idea of trusts) wording that has the effect that the current occupier must take out insurance to cover bricks and mortar for damage.

 

I think that would make an insurable interest, as it makes the occupier responsable for the building.

 

I stress again im no expert.

Link to post
Share on other sites

  • 3 years later...

I have to point out this is incorrect, and your property insurance is not valid if you have not informed the insurer that it is in trust-as it is a material fact they should be told about before the contract of insurance was taken out. Many insurers will repudiate any claims on this basis and cancel your insurance.

 

Secondly, the financial interest must be the policyholder...in this case the Trust is the owner of the property and therefore the financial interest. The policy must therefore be written in the name of the trust and the trustees noted as joint proposers for data protection or for notification of the executor upon them being deceased.

 

This issue with property in Trust is that the trust and the trustee are separate legal entities and if the worst happened and the house was burnt down the money would be paid to the owner -the Trust and not the policyholder or lifetime resident so this needs to be very clear.

 

There are very few insurers who actually insure this business as it is very time consuming and doesn't fit any of their electronic systems, so needs to be manually written as a contract.

 

This is time consuming and therefore high administration costs, which means high premiums or no premiums at all offered as it doesn't justify value for money for the insurer to type it all up.

 

However, this makes it niche so there are a few brokers who do work in this area as a very traditional style of brokerage and prepared to do quirky more complex risks.

Edited by honeybee13
Advertising removed.
Link to post
Share on other sites

The point to be made is that people should consult a Solicitor to ascertain the correct way of insuring the property. From what i have seen of a trust arrangement, it was clear who had responsibility of insuring the property.

 

If people approach insurers without having any clue about the trust arrangement and responsibility of insuring property, they may not get any help from the insurers, as they are unlikely to know.

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group

 

If you want advice on your thread please PM me a link to your thread

Link to post
Share on other sites

  • 2 years later...

T1101

- I hope you read this but I'm not that optimistic as it's so long since your post!

 

I have been trawling the internet as I have a "dumb" question

 

- I am named as a Trustee in my late Father's Will, along with my Mother (we are both named as Trustees and also Executives.

 

I am also a Beneficiary along with my brother).

 

I am in the process of trying to find out where to turn to for this kind of insurance as the Will states buildings insurance has to be in my name and my Mother's (she has a lifetime right to live in the property after they severed their ownership of the property and became Tenants in Common).

 

I really want to find out where to get this kind of insurance, and also you mention the Trust as an entity

 

- I am getting my head round that concept, but do all Trusts have a specific name??

 

The Will only talks about my Mother and me as Trustees using our own names, and no Trust name is given.

 

Should something have been done after my Father died to give the Trust a distinct name?

 

Is it a legal requrement?

 

If so, who should have done something about it, and how?

Thanks so much for any advice on this.

Edited by dx100uk
Spacing
Link to post
Share on other sites

Hopefully one of our insurance posters will see this, but I would think normal buildings insurance might suffice as long as it's in joint names.

 

 

If you have a solicitor involved, they should know who to ask, or you could try an insurance broker.

 

 

HB

Illegitimi non carborundum

 

 

 

Link to post
Share on other sites

BonnyB121, on your internet searches did you came across this page, which gives a very good, if detailed, explanation of the law and good practice?

 

https://www.step.org/sites/default/files/Policy/Guidance_Note_Property_holding_by_trustees_-_part_9.pdf

 

If the Will states who should insure the property, and in whose name, that ought to be sufficient to create insurable interest, but do check with your solicitor.

 

 

I was a Trustee of a Trust created in a Will and we had to open a bank account in the name of the Trust and insure a house. Our solicitor said you call it whatever you like, but commonly a Trust created in the Will of John Smith you'll call "The John Smith Will Trust". Banks will want to see the Will creating the Trust anyway. Insurers didn't seem too bothered. They just named the Trust as the Policyholder and dealt with me. Other insurers might want to name the trustees as joint insureds "as Trustees".

 

The only problem it caused in practice was that banks and insurers have so automated everything that their systems could not cope with the Policyholder being the Trust and me being the Trustee they had to correspond with. I lost count of the number of letter sent to me that started "Dear Mr Trustees"

Link to post
Share on other sites

The existing Insurers should just continue the buildings Insurance in name of deceased and note the details of trustee etc. Once the property concerned has legallly been transfered, then then new legal owner either takes over the Insurance or arranges their own Insurance.

 

If there waa no existing buildings insurance, then go to a brokers such as Home Protect or Towergate and they will advise on how to arrange a suitable policy.

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group

 

If you want advice on your thread please PM me a link to your thread

Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...