Formalities for creating a trust

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  • Created by: Hope
  • Created on: 19-05-16 14:59
Which formalities are wills subject to?
Those laid out in s9 Wills Act
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What happens if you don't comply with these formalities?
The testator dies in testate, and the executors distribute the funds
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What formalities are required for an inter vivos trust of land?
has to be proven in writing
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What formalities are necessary for an inter vivos trust of personalty? Case?
None, oral declarations are fine as long as they satisfy the 3 certainties. Paul v Constance
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When will equity disregard formalities? Example?
If the failure to comply with formalities have left the property in the hands of someone whom it would be unfair or unconscionable to do so. Rochefoucauld v Boustead
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When will a fraud arise?
Where land has been transferred subject to an oral understanding that it is to be held on trust and the other person denies the trust
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What is a declaration of trust?
When the absolute owner decides that the property is to be divided into legal and equitable shares
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What happens if a beneficiary decides they don't want the property?
They can declare a sub-trust
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Other cards in this set

Card 2

Front

What happens if you don't comply with these formalities?

Back

The testator dies in testate, and the executors distribute the funds

Card 3

Front

What formalities are required for an inter vivos trust of land?

Back

Preview of the front of card 3

Card 4

Front

What formalities are necessary for an inter vivos trust of personalty? Case?

Back

Preview of the front of card 4

Card 5

Front

When will equity disregard formalities? Example?

Back

Preview of the front of card 5
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