If any Shareholders/Partners/Members are trustees, what restrictions apply to the assignment or transfer of beneficial interests in the trusts without Beehive Homes' consent?

According to Beehive Homes' 2025 Franchise Disclosure Document, if any Shareholders, Partners, or Members are trustees, there are specific restrictions regarding the assignment or transfer of beneficial interests in the trusts. Specifically, the beneficial interests in the trusts cannot be assigned, and transfers to successor trustees or special trustees cannot be made without Beehive Homes' prior written consent, even if such a transfer is provided for in any trust agreement. Furthermore, the trust agreement itself cannot be amended without Beehive Homes' prior written consent.

This requirement ensures that Beehive Homes maintains control over who ultimately benefits from or controls the franchise. This provision is designed to prevent unauthorized changes in ownership or control that could impact the operation and standards of the Beehive Homes franchise.

Prospective franchisees who plan to structure their ownership through trusts should be aware of these restrictions. They must obtain written consent from Beehive Homes for any changes to the beneficial interests or trustees of those trusts. This could add complexity to estate planning or business succession strategies, as any desired changes would need to be pre-approved by Beehive Homes. Franchisees should carefully consider these limitations and discuss them with their legal and financial advisors to ensure compliance and to develop appropriate plans that align with both their personal goals and the requirements of the franchise agreement.