Good evening,A property was purchased wi...

Asked by Matthew on 08-09-2021 19:09:35
Question posted in the Property Law category relating to Eastern Cape

Good evening,

A property was purchased within a trust, which has 4 members. I have recently learned that one of the members has withdrawn funds from the bond, increasing the amount owed.

Is it possible for me to remove myself from the trust which I no longer wish to be part of, and what would the process be?

Kind regards,


Information Requested by Lawyer

Posted by Att. Patrick on 10-09-2021 13:20:55

Hi there,

I see that you haven't made a payment for the question, but I'm going to assist you a little. If you want to ask a follow-up question, please make the required payment, even if it is R150 or R200.

When you say that the trust has 4 members, I think that you mean 4 trustees?

If that's the case, and you are a trustee, then you can simply resign as a trustee. Easy. 

But, if you signed as surety on behalf of the trust for the loan agreement with the bank, then the bank won't let you off that surety ... so you'll still be liable there! 

My advice is to get the trustees to act together to force that 1 trustee to repay the money.

Att. Patrick 

Please remember this is a dialog if you have follow-up questions please make the required deposit, then use the REPLY button and ask your further question. I would like to continue assisting you, but I need to concentrate on people who make deposits for their questions - they get serviced first!

If you would like to view the entire answer, you will need to either login or register a FREE account.


DISCLAIMER: Advice or answers from Lawyers on SA Legal Advice are not substitutes for the proper advice of an Lawyer. SA Legal Advice is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Lawyer who assists with your question is not your Lawyer, and the response above is not to be considered to be legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains. The responses above are from individual Lawyers, not SA Legal Advice. The site and services are provided “as is”. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service.