HOW TO STOP BEING A VOLUNTEER TRUSTEE?
You have been elected co-ownership trustee but realize that you can no longer devote time to your co-ownership ? Feeling overworked ? Here's how you can step down from your role as a volunteer trustee.
Resignation
When you are elected, the term of office ranges from one to three years maximum. At the end of the meeting, the renewal must be voted at the general meeting. You may decide not to stand for re-election, and in this case, will not be considered a resignation.
The law of 10 July 1965 gives you the right to terminate your duties as a voluntary trustee at any time. Simply send a letter with acknowledgment of receipt to the members of the syndicate of co-ownership of the co-ownership with or without supporting documents.
The syndicate of co-ownership cannot refuse you the resignation, so there is no notice and takes effect immediately. Except in the case where, the mandate contains specific clauses concerning resignation. In this case, the trustee must comply with the conditions of the contract.
The estate of the volunteer trustee
A co-ownership cannot remain without a trustee, it is then necessary that the resigning trustee takes care of organizing an extraordinary general meeting with agenda, the resignation of the trustee and the election of a new trustee.
If no co-owner volunteers, it is necessary to go to a professional trustee.
Winston Churchill
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Abusive resignation
You have to think about what comes next before you resign, otherwise it will be considered abusive!
If you do so, the co-ownership may find itself without a trustee or with a property administrator appointed by the High Court.
And in this case, the court can decide that the resigning trustee will pay the expenses of the latter, or award damages to the syndicate for the damages suffered.
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Posted on 12/04/2023 by
