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Form LRA 45 - Transfer by Trustee on Bankruptcy
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Pages
2
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Document Overview
Form LRA 45 is an official instrument used when a trustee in bankruptcy formally transfers the interest of an adjudged bankrupt in land/property to a new transferee.
The purposes of this form are:
1. To transfer land/property from the bankrupt estate (managed by the trustee) to a purchaser, creditor, or other transferee.
2. To implement the bankruptcy process by allowing the trustee to realize the bankrupt’s assets for the benefit of creditors.
3. To ensure the transfer is legally valid and registered, protecting both the transferee and the bankruptcy estate.
4. To record the new ownership in the land register, showing that the bankrupt has no remaining proprietary interest.
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