Wills & Trusts Law Reports | Winter 2021 #185In 1994, by a series of trust deeds, Mrs Pesenti established four settlements in the Isle of Man known as the RR1, RR2, RR3 and RR4 Trusts, each of which was for the benefit of one of her children and his/her heirs. The RR2 Trust (the trust), which alone formed the subject of this case, took as its beneficiaries the appellant and her issue born before the perpetuity date, together with two named charities. The dispositive provisions of the trust required the trustees to hold the trust fund and its income on discretionary trusts for all or such one or more exclusively of the others or oth...
Martin McKeague and Will Cousins analyse recent key cases on the interpretation of overage agreements ‘Mr Biden’s argument was that the overage provision gave him complete discretion as to whether and when to sell the properties and, therefore, whether and when to pay the overage.’ In recent years and months, contractual interpretation, and in particular …
Continue reading "Development: Overage and contractual interpretation"
This post is only available to members.
