Trust Agreement for Syndicated Mortgage Units (Canada)

Use this template to prepare a Trust Agreement forming part of a syndicated mortgage transaction in Canada. The agreement is between the issuing corporation and a trustee who is to hold title and act on behalf of the various co-owners who hold fractional interests in the syndicated mortgage. Provisions of the agreement include:

• The trustee holds title to the land in trust in accordance with both the Trust Agreement and a Co-Owners Agreement among the co-owners and the issuing corporation.
• The co-owners, when not in default under the agreement, are entitled to full rights of ownership of the land, including possession and right of use.
• The trustee will not be required to expend its own funds or incur any financial liability.
• The Trustee has the power to commence any actions or proceedings it considers necessary to protect the rights of the Co-Owners and their respective interests in the land.

This is a Canadian legal document in MS Word format.