constitution and formalities
- Created by: leahjayne97
- Created on: 03-05-19 13:37
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- Formalities and constitution
- A trust is constituted when the settlor has done all that is necessary to create a trust
- Self declaration and transferring trust property to trustees
- Self declaration- no need for transfer of title already in the settlor name and remains in the settlor's name albeit in a different capacity
- Are words used enough to constitute himself a trustee. Declaration can be by words or conduct must be evidence of intention
- Untitled
- Self declaration of trust and formalities in land
- Must be in writing and signed by the settlor- S53(1)(b) LPA 1925
- only applies to express trusts not implied, constructive or resulting
- Failure to comply makes the trust unenforceable- boundary agreements form an exception to this requirement
- only applies to express trusts not implied, constructive or resulting
- Must be in writing and signed by the settlor- S53(1)(b) LPA 1925
- Self declaration of trusts and formalities- wills
- Trust taking effect on death of settlor must comply with s9 wills act 1837 - need writing signature and witnesses
- Self declaration of trusts and formalities- shares
- must comply with statutory requirements. writing needed under the 1988 act and a completed stock transfer form neeeded
- Transferring trust property to trustees LAND
- Requires formalities under s53(1)(b) LPA 1925 writing and s52(1)LPA 1925 transfer of the title by deed
- An ineffective transfer will not be construed as a declaration of trust
- A trust is constituted when the settlor has done all that is necessary to create a trust
- Transferring trust property to trustees- chattells
- title is transferable by delivery with necessary intention to create a trust- title also transferable by deed (gift)
- Transferring trust property to trustees- chattells
- writing is required s136 LPA 1925 in some cases more than mere writing is required company stocks and shares s1 1963 act
- Effect of constituting a trust- otherwise equity will not assist a volunteer
- every effort rule
- Re Rose
- Re Fry
- Pennington v Waine
- every effort rule
- Exceptional cases where equity will assist a volunteer
- Strong v bird/ DMC/ equitable estoppel
- DMC- cain v moon
- in contemplation of death
- DMC- cain v moon
- Strong v bird/ DMC/ equitable estoppel
- intention that property will revert if not death
- delivery of subject matter
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