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7 Cards in this Set
- Front
- Back
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Where are the formalities set out for the disposition of a subsiting equitable interest, be it land or personalty? |
Law of Property Act 1925 s53(1)(c) LPA 1925 s53(1)(c) "Must be in writing signed by the person disposing of the same or by his agent lawfully authorised in writing or by will" Failure makes the disposition void |
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Where are the formalities set out for setting up a trust? |
Law of Property Act 1925 s53(1)(b) At this point equitable and legal interests become separated Requires it to be evidenced in writing |
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Vandervell v IRC (1967) - Ratio Decidendi |
Where a beneficiary of a bare trust instructs trustees to transfer legal and equitable title then LPA s53 (1)(c) does not apply This is because the beneficiary can invoke Saunders v Vautier and then gift it to the second person |
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Grey v IRC (1960) - Ratio Decidendi |
FILL THIS IN |
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Neville v Wilson (1996) |
A contract to assin a subsiting equitable interest cannot intself also be a disposition of such an interest. WHAT? |
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Grainge v Wilberforce (1889) Re Lashmar (1891) |
If a trustee creates a bare sub-trust for another then they would effectively drop out meaning that it is merely a disposition of the equitable interest from the trustee. In this case it is likely that LPA s53(1)(c) will apply |
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Self-Declaration of a Sub-Trust in an Existing Equitable Interest for Another |
This is likely to be seen as creating a new sub-trust and as such LPA s53(1)(c) will not apply as it does not apply to the creation of trusts |
