Whilst full guidance is provided in the Purchase Guidance for Managing Trustees, this checklist summarises the charity law and Methodist law, policy and best practice requirements that must be met before TMCP can confirm its approval to exchange of contracts taking place.
In this Checklist, “the 2011 Act” means the Charities Act 2011.
Please remember that two authorised Managing Trustees will need to arrange to sign the contract in advance of exchange. Authority cannot be delegated to Managing Trustees' solicitors.
Please refer to Sections B3, C and D of the Purchase Guidance for Managing Trustees for guidance on the procedures and steps to be taken at exchange and completion including making payment requests in time for release of funds on exchange and completion.
Please note that this document is to provide guidance and assistance to Managing Trustees and their professional advisers. This guidance note is general in nature, may not reflect all recent legal developments and may not apply to the specific facts and circumstances of any particular matter.
Also note that nothing within the documents and guidance notes provided by TMCP nor any receipt or use of such information, should be construed or relied on as advertising or soliciting to provide any legal services. Nor does it create any solicitor-client relationship or provide any legal representation, advice or opinion whatsoever on behalf of TMCP or its employees.
Accordingly, neither TMCP nor its employees accept any responsibility for use of this document or action taken as a result of information provided in it.
Please remember that Managing Trustees need to take advice that is specific to the situation at hand. This document is not legal advice and is no substitute for such advice from Managing Trustees' own legal advisers.