A shared ownership trust is a trust of land, within the meaning of section 1 Trusts of Land and Appointment of Trustees Act 1996, which meets the following conditions:
Ymddiriedolaeth ranberchnogaeth yw ymddiriedolaeth tir, o fewn yr ystyr a roddir iddi yn adran 1 o Ddeddf Ymddiriedolaethau Tir a Phenodi Ymddiriedolwyr 1996, sy’n bodloni’r amodau canlynol: