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- DISCLAIMER BY TRUSTEE
Description
DISCLAIMER BY TRUSTEE
This is a "Readymade Format for Disclaimer by Trustee ".
Legally required caluses are already in agreement Format in addition to, if is required, then you can add or remove the conditions.
A Disclaimer by a Trustee is a legal document in which the trustee formally renounces or declines a certain right, interest, or responsibility in relation to a trust. The disclaimer is usually made to avoid any potential conflicts of interest or legal liabilities.
For example, a trustee may use a disclaimer to decline the acceptance of a particular asset in a trust, if the trustee has a personal interest in that asset or if the acceptance of that asset would put the trustee in a position of conflict.
A disclaimer by a trustee must be in writing, signed and dated by the trustee and sometimes it needs to be registered with the relevant government office. It is also important to note that a disclaimer by a trustee does not automatically transfer the disclaimed interest to another party, this would require a separate legal action.
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