Asset LiabilityMay 19th, 2017
The Allocated Land
Allocated Land is the sum total of areas used by a beneficiary which in the case of the UK is 1 acre. The basis for this area is the overall area of the UK divided by it's population and pro-rata for any other area of free movement.
Asset depravity Beneficiary status is dependent upon asset depravity.
The entitlement to use ELF land, to grow produce is based on personal assets. Those with money Class A4 can buy their own land and if they can't be bothered then the intention is to give them short shrift and not to encourage their depravity.
Is a person who has by some means provided the asset as part of the trust and so can never be a Class 3
If a Class B beneficiary subsequently acquires assets they acquire a Class BWA status. Such a person must contribute to the trust within three years of a written request an amount that would otherwise be needed to buy the land, they benefit from, on the open market. Failure will initiate eviction and a claim for costs.
Those with enough assets to buy their own land
Examples of Class AB
Parent R provides money to Child J to help purchase a residential property which amount to 7 of 25 shares in property. R held this money for the purpose of enhancing the trust above that of supporting J. However 2 of the 25 are given without condition to J.
The value of land is highly variable but at this junction of time and space five to ten thousand pounds seems adequate for a person to buy land and grow food etc.
In the above 1/5 of is money belong to the trust and J can use this money for personal residence or land purchase aligned to the trust. Should J sell the property and not put all 7/25th then J would be a Class B3 person and not entitled to benefit from the trust.
The logic is that J has been provided by way of residential security should they choose not to convert this to land they should not also benefit from land.
Should J loose all assets they will be entitled to Class B