Other slides in this set
Here's a taster:
Trusts of Land and Appointment of Trustees
Act 1996 TOLATA
S6(1) TOLATA T's have same powers as absolute owners for the purpose of exercising
powers of T's.
S6(3) TOLATA Includes powers to: sell, lease & mortgage, Re-invest sale proceeds and
partition trust land between B's.
S11(1) TOLATA Consultation with B's <- so far as possible> give effect to the B's wishes.
Right to occupy B's - interest in possession of land, can occupy if trust
S12 TOLATA makes it available or the land is held by T's to be available.
Applications for order, court has power to make orders: occupation rights,
S14 TOLATA right to be consulted, payment of occupation rights, disagreement
between T's re sale, B's wanting to force sale, Creditors wishing to sell.
Who can apply to court for order? T's, B's, Person with interest in
S14(2) TOLATA Courts power to make orders broad discretion, as it sees fit!
Courts will have regard for Intentions of persons who created trust,
S15 TOLATA purposes for which land held, welfare of any minor, interests of secured
Here's a taster:
Williams v Hensman 1861
Written notice s 36(2) LPA Severance by Mutual Conduct
· Can be a unilateral action. · no express or implied agreement to
· No need to have other joint tenants consent. sever, infer from conduct of tenants, all
· Must be in writing, no need for it to be interests treated as tenants in common.
signed Re Draper's Conveyance. · Re Wilford's Estate - if one or more
· Has immediate effect. person directs their share in a will, it
indicates a desire for severance & that
Homicide right of survivorship should no longer
· cannot benefit from the right of operate.
survivorship where they unlawfully kill
another joint tenant Cleaver v Mutual
FORMS OF SEVERANCE
·The action of Unlawfully Killing generally Severance by Mutual Agreement
severs his interest. · Does not need to be in writing or comply
with s2 LP(MA) A 1925
Operating on own Share · Wright v Gibbons must be between all
· Can be unilateral or hidden beneficial joint tenants.
· Must be final and irrevocable. · Burgess v Rawnsley does not need to
· Act inter vivos `someone outside of the be in a specifically enforceable contract.
trust', share to stranger/ Joint tenant First · Hunter v Babbage further illustrated
National Securities v Hegarty. that the agreement may be legally
· Cannot be severed by a Will. unenforceable.…read more
Here's a taster:
Can be held as Joint Tenants or as Tenants Only be held by as a Joint Tenant. S34 LPA
in common. Legal owners hold the land as trustees.
Presumption that any beneficial ownership Right of survivorship applies to legal title.
is a joint tenancy. Rules affecting legal title:
This presumption is affected by: Trustee Act s34(2) If >4 tenants only 1st 4 of
The absence of any of the 4 unities full age are classed as trustees.
Express declaration LPA s1(6) legal estate cannot be owned by
Words of severance a minor.
EFFECT OF SEVERANCE EFFECT OF SEVERANCE
Serves notice - When one tenants serves Cannot sever legal Joint Tenancy.
notice of severance, they are free to deal Severing beneficial joint tenancy does
with the property as they see fit becoming
not sever Legal Joint Tenancy.
a tenant in common.
Right of Survivorship applies to legal
Sells Share - Should another joint tenant
sell his share the new tenant would also and equitable joint Tenancy.
become a tenant in common. If one joint tenant at law dies the
Death - If one of the remaining Joint surviving joint tenants at law hold the
tenants dies, right of survivorship takes legal title of behalf of the equitable title
place and the remaining joint tenants owners
receive their share.…read more