If you are co-trustee, your role involves the execution of all documents in conjunction with the other trustees in the sale of any business or purchase of any business.
You need to read the trust deed. This provides all the terms and conditions and also the rights and responsibilities of the trustees to the trust.
All trustees would be required to be involved in negotiations for the sale of the business.
Unit holders are not involved, but if a decision is made to sell the business it may have to be put to the unit holders for a vote of yes or no, but this again depends on what the trust deed says.
As the trustee you have equal responsibility to the other trustee in making decisions.
The shares are owned by the trustee do not give him all power or less power. you and the co-trustee are equal in making decisions for the trust.
He cannot use the shares that he has in the unit trust against you because he has more.
They do not applied his position as trustee.
In any negotiations he cannot look after itself interesting must look after the interests of the entire trust and as the co-trustee it is your responsibility as well.
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