Collateral Assignment Of Beneficial Interest Template for England and Wales

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Collateral Assignment Of Beneficial Interest

"I need a Collateral Assignment of Beneficial Interest to secure a £5 million loan from ABC Bank, where we're assigning our beneficial interest in a commercial property trust as collateral, with completion required by March 2025."

What is a Collateral Assignment Of Beneficial Interest?

A Collateral Assignment of Beneficial Interest is commonly used in secured financing transactions under English and Welsh law when a party wishes to grant security over their beneficial interest in assets without transferring legal title. This document is particularly relevant when the underlying assets are held in trust or when direct security over assets is impractical or undesirable. The assignment creates an enforceable security interest while preserving the assignor's day-to-day rights until default. It must address perfection requirements, enforcement mechanisms, and comply with relevant legislation including the Law of Property Act 1925 and Financial Collateral Arrangements Regulations.

What sections should be included in a Collateral Assignment Of Beneficial Interest?

1. Parties: Identifies the assignor, assignee, and any other relevant parties

2. Background: Explains the context and purpose of the assignment

3. Definitions: Defines key terms used throughout the document

4. Assignment: Details the beneficial interest being assigned as collateral

5. Security Interest: Specifies the nature and extent of the security interest created

6. Representations and Warranties: Assignor's statements regarding ownership and authority to assign

7. Covenants: Ongoing obligations of the parties

8. Enforcement: Rights and remedies upon default

9. Governing Law: Specifies English and Welsh law as governing law

What sections are optional to include in a Collateral Assignment Of Beneficial Interest?

1. Further Assurance: Additional actions parties may need to take to perfect the security

2. Power of Attorney: Grants assignee power to act on assignor's behalf when direct enforcement rights are required

3. Notice Provisions: Requirements for serving notices when formal notice procedures are important

What schedules should be included in a Collateral Assignment Of Beneficial Interest?

1. Description of Beneficial Interest: Detailed description of the beneficial interest being assigned

2. Form of Notice: Template for notifying relevant parties of the assignment

3. Underlying Documents: Copies or details of documents creating the beneficial interest

4. Security Documents: Related security documentation if part of larger security package

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Financial Services
Real Estate
Private Equity
Insurance
Trust Services

Relevant Teams

Legal
Finance
Treasury
Risk Management
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Relevant Roles

Chief Financial Officer
Treasury Manager
Corporate Lawyer
Security Trustee
Risk Manager

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Let's create your Collateral Assignment Of Beneficial Interest

What is a Collateral Assignment Of Beneficial Interest?

What sections should be included in a Collateral Assignment Of Beneficial Interest?

What sections are optional to include in a Collateral Assignment Of Beneficial Interest?

What schedules should be included in a Collateral Assignment Of Beneficial Interest?

Authors

Alex Denne

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