Hey there! Sign in to join this conversationNew here? Join for free
x Turn on thread page Beta

Equity and Trusts watch

Announcements
    • Thread Starter
    Offline

    0
    ReputationRep:
    - Chris was the beneficiary of a trust set up by his father’s will. The will gave Chris a life interest, remainder to a charity. 1 year ago, Chris telephoned the trustee of the trust and asked him to pay all future trust income to Mark and to regard him as the life tenant from then on. Mark has not received any income and asks whether he can demand any back-payments.

    Is Mark able to get back payments? What is the best way to start off this question? Any pointers please.
    Michelle tells you that she has had a phone call from Chris’s neighbour who says that Chris assured her that, because she had always admired the grandfather clock, she could have it after his death. The neighbour has asked when she can collect the clock.
    Is the neighbour entitled to the clock? What does the law of gifts say, again any pointers on where to look..
    Finally, Chris told Michelle that she was to have their mother’s perals and that he would hand it to her when she next visited. Michelle visited Chris several times before he died but he never handed over the necklace and now Michelle is looking to claim it.

    My question is, what advice can abody give me on how to go about looking at these questions. I have a rough idea i.e trusts and formailities on making trusts, but I am not sure what area of law I need to look at.

    Thanks
    Offline

    0
    ReputationRep:
    So both examples are dealing primarily with the provisions of formalities under the Law of Property Act 1925 ss 53(1)(a)-(c)

    In the first example I do not believe that there has been a valid disposition of a subsisting equitable interest. Typically the donation will have to be made by way of writing: s 53(1)(c): "a disposition of an equitable interest or trust subsisting at the time of the disposition, must be in writing signed by the person disposing of the same, or by his agent thereunto lawfully authorised in writing or by will."

    With the second one you would firstly need to talk about how the standard rule is that a declaration of a trust, in this case, can be made orally (as it falls outside the caveat of LPA 1925 s 53(1)(b)). You could briefly mention donatio mortis causa here, but it certainly wouldn't be the crux of the problem.

    I'm wondering where you got these questions from. They seem fairly straightforward and don't really seem to go into any great detail on trusts.
    • Thread Starter
    Offline

    0
    ReputationRep:
    Is the gifts ie pearls and grandfather clock given away or would gifts fail. Thanks for your help and these are questions I was asked so I made up a scenario for them.

    Thanks
 
 
 
Reply
Submit reply
Turn on thread page Beta
Updated: January 13, 2015
Poll
Do you agree with the proposed ban on plastic straws and cotton buds?

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.