There are many situations where the legal title to property is held by trustees. For instance if the asset is land, it has at some time been conveyed to them, and they are registered as the owners. Similarly shares may be registered in the name of trustees.

But even though trustees hold the legal title to the property the property is not necessarily settled property for the purposes of CGT, see CG33220. It is not settled property where one or more persons are `absolutely entitled as against the trustees'.

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