:: what is the HPT :: how it works :: frequently asked questions ::
How does the Home Preservation Trust work?
A trust is simply a legal arrangement in which ownership of your property changes; like this:
After the trust is set up, you will be a trustee, together with somebody chosen by you. You will also be the trust's protector - which means that you retain the ability to appoint and remove trustees, and also to direct the trustees to sell your home and purchase a new property if you wish to move elsewhere.
The benefits of the Home Preservation Trust are to:
- ensure that your home passes to your intended beneficiaries at a time chosen by you (e.g. on death)
- provide for beneficiaries who are minors, or disabled, or otherwise unable to have the property given to them outright
- protect the property if your intended beneficiaries are spendthrifts