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KembaraXtra – Legal Terms – Official Custodian for Charities
The Official Custodian for Charities is a corporation sole created under charity legislation to hold property for charitable purposes as a custodian trustee.
Property vested in the Official Custodian remains held for the benefit of the relevant charity while legal ownership is placed in the custodian’s name.
The role was originally established under the Charities Act 1960 and is now governed mainly by the Charities Act 2011.
The Official Custodian acts in circumstances specified by statute, particularly where it is useful for charity property to be held independently and securely.
This arrangement helps protect charitable assets and simplify property management while leaving operational decisions to the charity trustees.
The Official Custodian for Charities is a corporation sole created under charity legislation to hold property for charitable purposes as a custodian trustee.
Property vested in the Official Custodian remains held for the benefit of the relevant charity while legal ownership is placed in the custodian’s name.
The role was originally established under the Charities Act 1960 and is now governed mainly by the Charities Act 2011.
The Official Custodian acts in circumstances specified by statute, particularly where it is useful for charity property to be held independently and securely.
This arrangement helps protect charitable assets and simplify property management while leaving operational decisions to the charity trustees.
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