Trustee Services
Our team is able to draw on more than three decades of trust, custodian and escrow experience and has gained extensive knowledge in these areas. We understand our clients’ needs and tailor our services accordingly.
Principle Services of the Trustee
- Setup and administration of the Owning or Holding Company with the provision of directors, a company secretary, shareholders and a registered address.
- Set up any additional companies if required.
- Provide the following administration service:
- Provide a standard procedure manual.
- Set up a database for recording clients’ personal details together with details of their purchase and payment schedule etc.
- Register all completed sales.
- Produce sales reports at a frequency to be agreed.
- Receive and record confirmation that there are no mortgages or other encumbrances on the assets (where applicable) on which certificates are to be issued and/or funds released.
- Funds: (This section does not apply to “Custodian only” trusteeships)
- Set up and maintain separate client bank accounts for the collection of payments received from purchasers. Distribute these funds as required and report to the Developer in a standard format.
- Receive and hold in escrow the sales funds, where this is permissible by law, until the balance payment has been received.
- Hold in escrow any funds the trustee receives which are required to be retained in accordance with the Deed of Trust and/or Escrow Agreement.