Equity and trusts Master Case Study Example | Topics and Well Written Essays - 1000 words

Equity and devotes Master - Case report card ExampleHowever it is important the trust instrument must allow the shoes to be determine clearly. (The K-Zone - Certainty of Subject Matter)The transfer of five thousand sh atomic number 18s in Echo Ltd to be held in religious belief go out be considered as court-ordered trust property as has been decided in the object lesson of Re Rose (1952)4. The fact that the transfer of the sh bes was not registered does not affect the creation of the trust cover version the shares, as the legal presumption is that even when the settler has not done enough to effect a legal transfer the act of creating a trust including the shares as the trust property will contain a trust.The transfer of some prime agricultural land from the farm which Andy will inherit under(a) his fathers will does not constitute a trust. This is due to the fact that the title to the property in the passes to Andy just on the death of his father when the will takes ef fect. As the subject matter of the trust is not veritable there is no creation of any trust in respect of the agricultural land. This is the case of a future property that the settler expects to obtain. Any attempt to create a trust of a future property will be considered as void as the setter does not have the right to transfer the title to the trustee (The K-Zone - Future Property) This issue is well settled in Re Ellenborough 19035.3. Transfer of domiciliate property to Pat - On her marriage to JonathanIn this case when Andy creates a trust of the house property in favour of Pat on the condition that she marries Jonathan it gives rise to a case that a court of fairness would compel Andy to constitute the Trust if he reneges on his commitment (The K-Zone - Marriage Consideration). However there are no specific case laws to prove that marriage regard would still constitute a valid purpose for the creation of a trust for a modern court. But the existence of marriage consideration is attracted by the basic implication of unregistered conveyancing which may require the transfer of title to Pat.4. Transfer to Richard one of the house propertiesIn Milroy v Lord 18626 there are three processes that must be carried out to hump the transfer of any property as a valid gift. They areAn outright transfer of legal title to the beneficiaryAn outright transfer to trustees to hold on trust for the beneficiary ora self declaration trust The principle to be considered here is that the above three circumstances are mutually exclusive and the courts will not consider an imperfect gift as a trust or vice versa. The principle established in the case of Re Rose 1952 though has been do specifically applicable to transfer of shares can equally be