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KembaraXtra – Legal Terms – Limited Owner’s Charge
A limited owner’s charge is an equitable charge placed on property to secure repayment of certain expenses paid by a limited owner. It most commonly arises in relation to inheritance tax paid on acquiring an interest in property.
Although such tax is usually paid from the trust property itself, a limited owner may choose to pay it personally. This might occur where selling trust assets is undesirable or impractical.
In such cases, the charge ensures that the limited owner can be reimbursed from the property in the future. This charge can be formally registered, providing protection and notice to others dealing with the proper
A limited owner’s charge is an equitable charge placed on property to secure repayment of certain expenses paid by a limited owner. It most commonly arises in relation to inheritance tax paid on acquiring an interest in property.
Although such tax is usually paid from the trust property itself, a limited owner may choose to pay it personally. This might occur where selling trust assets is undesirable or impractical.
In such cases, the charge ensures that the limited owner can be reimbursed from the property in the future. This charge can be formally registered, providing protection and notice to others dealing with the proper
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