Afternoon all. I have a situation as follows: Property held on trust for 2 named minor children in the 90s. The children provided the funds to purchase the property (originating from non-parental sources). Deed states that children can transfer their vested interest in the property to themselves at the age of 25 - which they did. Parents were the trustees.
The above all sounds like a bare trust to me - albeit the children could have called for the property to be transferred to them at age 18 (Saunders v Vautier?) - but could it be any other type of trust?
The property is about to be sold, so just trying to establish what questions to ask. Many thanks in advance.