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12 Cards in this Set

  • Front
  • Back
What are the 3 main focuses of a 'property law approach' to trusts?
1) cold evidential facts and financial contribution;
2) legal title is conclusive;
3) sole legal owner presupposes sole beneficial ownership.
What are the 3 main focuses of a 'family law approach' to trusts?
1) emphasises the 'family home';
2) would give recognition to domestic partnership between parties;
3) would assess non-financial contributions.
What is the main focus of a 'contract law' approach?
1) party autonomy and intention of the parties.
What are the 3 typical contributions to the family home?
1) direct financial contribution (always valued by law)- to purchase price or mortgage repayment;
2) Indirect financial contribution (partially valued by law)- e.g. one pays mortgage and another pays bills;
3) Non-financial contribution (rarely valued by law)- domestic responsibilities.
What is a 'sole-ownership' case?
Where the claimant has no legal title and the defendant has sole legal title.
The claimant must show they have an equitable interest in order to gain anything.
What are the 2 stages of a sole-ownership case that a claimant must fulfil?
1) Acquisition stage- the claimant must acquire an equitable interest by satisfying the trust requirements;

2)Quantification stage- the claimant must quantify the equitable interest.
What is a 'joint-ownership' case?
Where the claimant and the defendant both have legal title and therefore SOME beneficial interest.
As a result there is no need for the acquisition stage.
What step is required to claim in a joint-ownership case?
1) Quantification stage- the claimant must quantify their equitable interest.
When will an express trusts arise?
When the parties expressly state how the beneficial ownership in property is to be held.
What is the formal requirement of an express trusts and what provision is it stated under in the LPA 1925?
Section 53(1)(b)- a declaration of trust regarding land must be written and signed in writing.
Which 2 cases state that an express trust is conclusive as to where the beneficial interest lies?
Goodman v Gallant [1986]
Jones v Kernott [2010]
What is the acquisition stage and what is the quantification stage of an express trust?
acquisition stage- written formalities

quantification stage- follows the express shares specified in writing.