Declaration Of Trust For Rental Income Template for Malaysia

1. Multiple Trustees Provisions: Required when there is more than one trustee, specifying how decisions must be made and responsibilities shared

2. Successor Trustee Provisions: Optional provisions for appointing replacement trustees and the process for trustee retirement

3. Property Management: Detailed provisions about property management if the trustee will have direct management responsibilities

4. Bank Account: Specific provisions regarding the operation of bank accounts for rental income if separate accounts are required

5. Dispute Resolution: Optional procedures for resolving disputes between trustees and beneficiaries

6. Insurance Requirements: Specific insurance obligations if not covered in general trustee duties

7. Variation of Trust: Procedures for modifying trust terms if this flexibility is desired

1. Schedule 1 - Property Details: Full legal description of the property including title details and address

2. Schedule 2 - Beneficiaries and Their Entitlements: List of beneficiaries and their respective shares in the rental income

3. Schedule 3 - Initial Trust Assets: Inventory of any initial assets besides the property being placed in trust

4. Schedule 4 - Trustee Remuneration: Details of any fees or compensation payable to the trustee

5. Appendix A - Property Management Guidelines: Optional guidelines for property management if relevant

6. Appendix B - Reporting Requirements: Format and timing of required financial reports and statements