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Property can be exempt on becoming comprised in a maintenance fund as a result of a transfer by an individual or a company¹, or on leaving a settlement with an interest in possession², or on ceasing to be relevant property³.

It may sometimes be difficult to arrange matters so that property comprised in an ordinary private settlement can go into a maintenance fund. It might be necessary where minors or unborn persons have an actual or potential interest under the settlement to obtain an order from the court under the Variation of Trusts Act 1958. Sometimes there will be powers which can be exercised in order to transfer the settled property to a maintenance fund.

In Raikes v Lygon⁴ the court was asked to determine whether a power conferred by a settlement to effect transactions which could have been authorised by the court under Settled Land Act 1925, s 64 permitted the trustees to transfer property to a maintenance fund for the maintenance of a historic property