This office lease clause deals with the mandatory obligation of the landlord to rebuild; time periods for reconstruction; continuation of abatement periods; the appropriate "what ifs" in the event portions of the premises cannot be restored and are deemed to be indispensable; and circumstances when the landlord or tenant can elect to terminate the lease.
Virgin Islands Clause Dealing with Fire Damage
Category:
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Multi-State
Control #:
US-OL11024A
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Word;
PDF
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The British Virgin Islands Criminal Code (No 1 of 1997) is a statute of the British Virgin Islands which consolidates almost all of the indictable offences under the Territory's criminal law.
The Beneficiaries, be it individuals, corporate bodies or a class of persons, are required to be sufficiently identified or identifiable in order to be able to benefit from the trust. The settlement deed may empower the Trustee to add or remove Beneficiaries or to exclude them from future benefit.
BVI Trusts As a common law jurisdiction the British Virgin Islands is frequently selected as the proper law and administrative situs of trusts used for financial and estate planning purposes. Instruments of Settlement and Declarations of Trust frequently specify that the trust shall be governed by BVI law.
Principal features of BVI purpose trusts The trust must have an enforcer, who must be a different person from the trustee. It is the fiduciary duty of the enforcer to enforce the trust. The purpose (i.e. the object towards which the trust property will be applied) needs to be specified in the trust instrument.
Section 83A (13) as amended in the Amended Act sets out the "firewall" provisions, which provide that subject to any express provision to the contrary in the trust or disposition, no BVI trust or transfers of property held on trust shall be void, voidable, liable to be set aside, or defective in any way, nor is the ...
This includes tax planning, family wealth management, the protection and preservation of assets, or for estate succession purposes, to avoid the expense and delay of obtaining a grant from the court to administer the estate of a deceased.
Under the Criminal Procedure Act, a constable of the Royal Virgin Islands Police Force or peace officer (in either case, a police officer) has powers of arrest. The BVI Director of Public Prosecutions (DPP) is responsible for prosecutions and makes the determination as to whether to pursue a prosecution.
Types of trusts discretionary trusts. VISTA trusts. life interest trusts. fixed interest trusts.