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8 Cards in this Set
- Front
- Back
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What provision of the LPA governs the creation of trusts of land, and what does it say?
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Section 53(1) LPA 1925- a trust in respect of land must be in writing, however it is sufficient that it is evidenced in writing sometime after the actual declaration of trust.
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What are the formalities required for a trust of personal property?
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they can be created without any formality- NO REQUIREMENT OF WRITING.
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Which case suggests that if a trust of land would be improperly constituted due to fraud of the settlor, equity will intervene and impose a constructive trust- prevents direct conflict with the statutory requirement for not being in writing.
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Rouchefoucald and Boustead
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Which provision of the LPA concerns the disposition of an already existing trust, and what does it state?
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Section 53(1)(c) LPA 1925- it must be made in writing AND signed by the disponor or by his agent.
-this is a higher threshold than for a mere declaration of trust. The disposition must be MADE not just EVIDENCED in writing. |
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Which case is an example of a ineffective disposition of a trust under section 53(1)(c) due to lack of compliance with the writing requirement?
-the attempted disposition was made orally. |
Grey v IRC [1960]
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what was the dicta of Vandervell v IRC [1976]?
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Mr Vandervell was the beneficiary under a bare trust, and directed the trustees to transfer the legal title to the property.
-As My Vandervell had equitable title, this was transferred concurrently with the legal title, and no separate disposition of the equitable title was required. -therefore section 53(1)(c) LPA 1925 did not come into play. EQUITABLE TITLE FOLLOWS LEGAL TITLE |
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Which case states that where there is an oral contract to transfer an equitable interest and a constructive trust arises, it is not necessary to satisfy the writing requirement under section 51(1(c). HOWEVER THIS DOES NOT APPLY TO LAND.
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Neville v Wilson [1996]
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What was the dicta in Re Vandervell's Trust (No2)?
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the extinction of a resulting trust was not a disposition for the purposes of section 53(1)(c) and therefore writing was not required.
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