The Future Advance Deed of Trust is commonly used in England and Wales when parties anticipate the need for multiple advances of funds over time, secured against the same property. This document type is particularly valuable for construction projects, property development, or business expansion where funding requirements evolve. It provides a framework for securing future advances without the need for new security documentation, while maintaining priority rights under English law. The deed establishes the maximum secured amount, conditions for future advances, and the trustee's role in protecting both lender and borrower interests.
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1. Parties: Identification of grantor, trustee, and beneficiary
2. Background: Context of the trust creation and purpose
3. Definitions: Key terms used throughout the deed
4. Trust Property: Description of property subject to the trust
5. Future Advance Provisions: Terms governing future advances and their security
6. Trustee Powers: Scope of trustee authority and responsibilities
7. Security Provisions: Terms of security interest and enforcement
8. Execution: Signature blocks and attestation
1. Insurance Requirements: Property insurance obligations - include when property requires specific insurance coverage
2. Co-trustee Provisions: Rules for multiple trustees - include when multiple trustees are appointed
3. Successor Trustee Provisions: Process for trustee replacement - include when succession planning is required
1. Schedule 1 - Property Description: Detailed legal description of trust property
2. Schedule 2 - Secured Obligations: Details of existing and potential future advances
3. Schedule 3 - Permitted Encumbrances: List of allowed liens or encumbrances
4. Appendix A - Form of Advance Notice: Template for requesting future advances
5. Appendix B - Priority Agreement: Terms governing priority of advances
Relevant legal definitions
Advance Date
Additional Advances
Beneficiary
Borrower
Business Day
Charged Property
Deed
Default
Default Rate
Encumbrance
Event of Default
Facility
Future Advance
Grantor
Initial Advance
Interest Rate
Land Registry
Legal Charge
Lender
Loan
Maximum Secured Amount
Notice of Advance
Permitted Encumbrances
Priority Notice
Property
Secured Obligations
Security
Security Interest
Security Period
Title Documents
Trust Property
Trustee
Trustee Powers
Working Day
Additional Advances
Beneficiary
Borrower
Business Day
Charged Property
Deed
Default
Default Rate
Encumbrance
Event of Default
Facility
Future Advance
Grantor
Initial Advance
Interest Rate
Land Registry
Legal Charge
Lender
Loan
Maximum Secured Amount
Notice of Advance
Permitted Encumbrances
Priority Notice
Property
Secured Obligations
Security
Security Interest
Security Period
Title Documents
Trust Property
Trustee
Trustee Powers
Working Day
Clauses
Interpretation
Creation of Trust
Security Interest
Future Advances
Priority
Representations and Warranties
Covenants
Property Maintenance
Insurance
Default
Enforcement
Power of Sale
Trustee Powers
Trustee Duties
Trustee Remuneration
Trustee Liability
Trustee Replacement
Notice Requirements
Registration
Assignment
Amendment
Severability
Governing Law
Jurisdiction
Entire Agreement
Counterparts
Third Party Rights
Waiver
Further Assurance
Costs and Expenses
Creation of Trust
Security Interest
Future Advances
Priority
Representations and Warranties
Covenants
Property Maintenance
Insurance
Default
Enforcement
Power of Sale
Trustee Powers
Trustee Duties
Trustee Remuneration
Trustee Liability
Trustee Replacement
Notice Requirements
Registration
Assignment
Amendment
Severability
Governing Law
Jurisdiction
Entire Agreement
Counterparts
Third Party Rights
Waiver
Further Assurance
Costs and Expenses
Relevant Industries
Relevant Teams
Relevant Roles
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