Is this a gift or a trust??

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A$AP Chadi
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#1
Report Thread starter 3 months ago
#1
Here is the case study:

To: Trainee
From: Principal
Client: Logan Roy
Date: Today

I would be grateful if you would research a case for me. Logan Roy, of Succession House, Apple Street, Derby, DE3 1YL, has approached the firm to seek advice on how to best transfer his holiday home, Waystar Manor, to his trusted friend Marsha. Logan is keen to avoid informing the land registry of the transfer until the latest possible moment. Logan wants to know what his options are, and which is the option you recommend.

Please be prepared to present your research on how you would advise Mr Roy as to the ‘best’ approach for achieving his goals. You should also be prepared to answer questions relating to that research when we meet. Finally, you may also want to consider any additional questions/queries/requests for further information that you want to ask Mr Roy. Many thanks.
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Lawschoolhack
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#2
Report 3 months ago
#2
(Original post by A$AP Chadi)
Here is the case study:

To: Trainee
From: Principal
Client: Logan Roy
Date: Today

I would be grateful if you would research a case for me. Logan Roy, of Succession House, Apple Street, Derby, DE3 1YL, has approached the firm to seek advice on how to best transfer his holiday home, Waystar Manor, to his trusted friend Marsha. Logan is keen to avoid informing the land registry of the transfer until the latest possible moment. Logan wants to know what his options are, and which is the option you recommend.

Please be prepared to present your research on how you would advise Mr Roy as to the ‘best’ approach for achieving his goals. You should also be prepared to answer questions relating to that research when we meet. Finally, you may also want to consider any additional questions/queries/requests for further information that you want to ask Mr Roy. Many thanks.
I don't understand your question. At present; it's neither. You have been asked to advise on the options and which you would recommend.
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Lawschoolhack
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#3
Report 3 months ago
#3
Presumably you need to advise on the difference between an outright gift and a trust. The problem with an outright transfer is that if the Land Registry isn't informed; he retains legal title (i.e. he will hold it on trust for her).

So IMO he should declare a trust with himself as trustee. The requirements of LPA 1925, s.53(1)(b) would be relevant. In this way the Land registry do not need to be informed.

I would want to ask him WHY he doesn't want the Land Registry to know as it seems a strange request.
constitution.

I have done a series of YouTube videos on Formalities and Constitution. LECTURE ONE might give you some ideas.
Last edited by Lawschoolhack; 3 months ago
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Lawschoolhack
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#4
Report 2 months ago
#4
(Original post by Lawschoolhack)
Presumably you need to advise on the difference between an outright gift and a trust. The problem with an outright transfer is that if the Land Registry isn't informed; he retains legal title (i.e. he will hold it on trust for her).

So IMO he should declare a trust with himself as trustee. The requirements of LPA 1925, s.53(1)(b) would be relevant. In this way the Land registry do not need to be informed.

I would want to ask him WHY he doesn't want the Land Registry to know as it seems a strange request.
constitution.

I have done a series of YouTube videos on Formalities and Constitution. LECTURE ONE might give you some ideas.
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