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Implied Trusts
This is a mind map talking about implied trusts. You can create a mind map like this effortlessly.
Edited at 2020-09-27 12:46:09- Creative Halloween Costume Ideas
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Implied Trusts
- Creative Halloween Costume Ideas
Halloween has many faces. The theme you envision should influence how you decorate the party space. Jack-o'-lanterns and friendly ghosts are more lighthearted Halloween characters. Zombies, witches, and vampires are much darker. If you want to celebrate all the fun sides of Halloween, then it’s okay to mesh the cute with the frightening. Here is a mind map which lists down the 39 Cutest Couples Halloween Costumes of 2021.
- 35 Best and Classic Halloween Movies
Halloween simply wouldn't be Halloween without the movies that go along with it. There's nothing like a movie night filled with all the greatest chainsaw-wielding, spell-binding, hair-raising flicks to get you in the spooky season spirit. So, break out the stash of extra candy, turn off all the lights, lock every last door, and settle in for the best of the best Halloween movies. Here are the 35 Halloween movies listed on the mind map based on the year of release.
- Halloween Party Ideas Mind Map
This mind map contains lots of interesting Halloween trivia, great tips for costumes and parties (including food, music, and drinks) and much more. It talks about the perfect Halloween night. Each step has been broken down into smaller steps to understand and plan better. Anybody can understand this Halloween mind map just by looking at it. It gives us full story of what is planned and how it is executed.
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Implied trusts
Constructive trusts
Arises where the circumstances are such that it would be unconscionable for owner of property to assert beneficial interest in property
Paragon Finance v DB Thakerer
Lloyd's Bank v Rosset
Situation 1
Express informal agreement
Must be an agreement, arrangement or understanding that equitable interest is to be shared
Specific statement about ownership must have beem made
Grant v Edwards
Not wanted to prejudice her divorce was held to be a common intention
Curran v Collins
Excuse of not buying two life insurance policies wasn't a statement about ownership
Does no matter what motivation was
Non-legal owner acts on this agreement to their detriment
Or alters their position
Causal test
Non-legal owner would not have acted if the agreement did not exist
Grant v Edwards
Objective test
eg paying for improvements
eg paying household bills
if pursuant to common intention
eg working unpaid
eg demolishing greenhouse
Situation 2
Inferred common intention
Court will infer common intention from conduct of parties
To do so, need to establish that non-legal owner has made direct contribution to purchase price
Lloyd Bank v Rosset
Shift in law towards taking wider view of contributions
Stack v Dowden
Payment of households expenses can be included if substantial and pursuant to agreement
Le Foe v Le Foe
supported by Abbot v Abbot
Quantifying shares
Won't use a mathematical calculation based on proportion to purchase price.
Instead will look at whole course of dealings
Midland Bank v Cooke
Will instead survey course of dealings to determine what was intended
Stack v Dowden
Starting point is what was agreed at time of purchase
If no evidence. Will consider whole course of dealings
E.g. advice and discussion
Nature of relationship
Purchase of house
If not possible to ascertain shares intended by direct evidence or by inference
Each party will be entitled to share which courts consider fair with regard to whole course of dealings
Jones v Kernott
Proprietary estoppel
Pascoe v Turner
Legal owner repeatedly told unmarried partner that house was hers
Proprietary estoppel prevented him from denying his assurance as he allowed C to act as detriment
Can be used as a cause of action
Unlike other estoppels
First stage
Must establish whether proprietary estoppel gives rise to equity
Legal owner must behave in such a way that C believes they have, or will have, some rights in relation to the property
Can be active assurance
Pascoe v Turner
Or Passive
Inwards v Baker
Stood back and let C act to his detriment believing he would be entitled to an interest
Thornton v Major
Sufficient for person invoking estoppel to establish that he understood an action to be an asusrance on which he could rely
Gillet v Holt
repeatedly told he would inherit estate
and C acts to his detriment on belief
Causal connection between detriment done and assurance made
Doesn't need to be sole reason but must be a reason
Can be financial
Gillet v Holt
Improving legal owner's land
Inwards v Baker
Looking after relative
Re Basham
Can be detriment if well beyond normal family moral duties
Must be unconscionable for legal owner to insist on strict legal ownership
Gillet v Holt
Worked for farmer for 40 years for little pay, and incurred expenditure on farm house
Courts should look at whether it is unconscionable to deny C what was promise
Second stage
Must choose which remedy will satisfy the equity
Should be the minimum to satisfy remedy
Fact dependent
Jennings v Rice
If C and D have reached mutual bargain
Courts may well fulfill expectation
If C's expectations are uncertain or not focused on specific property, or don't reflect D's assurance or bear no relation to amount of detriment
Courts will take C's expectation as starting point
Will factor in:
extent of detrimental reliance
unconscionability. e.g misconduct by either party
any alteration to D's finances
Financial obligation owed to D by others
Effect of taxation
Any benefits C has derived from situation
Whether proposed remedy is practical
Proportionality
Joyce v Epsom and Ewell
Focus on what is fair and proportionate between parties
Examples
Pasoce v Turner
transfer of freehold to C who expected home for life
Gillet v Holt
order transfer of farm to fulfil H's assurances
Jennings v Rice
Compensation valued at detriment of providing full-time care
Interest in property can be awarded
Long lease terminable on C's death
Southwell v Blackburn
Fixed sum to reflect detriment
Resulting Trusts
Voluntary transfer and purchasemoney cases
Overview
A makes voluntary transfer to B
OR pays for property vested in B's name
Presumption of resulting trust
Can be rebutted
Presumption of advancement in certain family relations
Can be rebutted
Presumption of resulting trust
Voluntary transfer
Thavorn v Bank of Credit and Commerce International
Rebuttable
Only applied in absence of evidence.
Doesn't apply to transfer of land
S60(3) LPA 1925
In absence of consideration and intention, transfer from X to Y will = resulting trust
Purchase money
Abrahams v Trustee in Bankruptcy of Abrahams
Wife paid for lottery ticket
No intention of gift
Husband's share held on trust for wife
Parrot v Parkin
X contributed 55% of price of yacht
Y held share on trust for X
Family Home
Resulting trust in proportion to payments
Payment must be made at time of initial purchase
Curley v Parkes
Mortgage payments didn't count
Nor will legal or mover fees
May find a constructive trust as alternative
Stack v Dowden
Resulting trust can be found if bought as investment
Laskar v Laskar
Presumption of advancement
Person making transfer is under an obligation to provide for other. Will be presumed to be a gift
Father to child
Bennet v Bennet
including in loco parentis
Bennet v Bennet
Can include mother child in 'certain circumstances'
Sekhon v Alissa
Easily rebuttable
McGrath v Wallis
Being in son's name was a technicality
Marshal v Crutwell
Convenience, not a gift
Warren v Gurney
Evidence found that son-in law was to repay the cost
Rebuttal
Evidence of contrary intention will rebut
Loosemore v Mcdonnel
Clear evidence of a gift
If loan intended. Evidence needed
Only acts done and statements made at time of transaction
Shephard v Cartwright
Effect
Size of equitable interest reflects proportion of purchase price contributed
Incomplete disposal of equitable interest
Settlor transfers property to trustees on trust
Doesn't dispose of equitable interest
Occurs if trust is void
Vandervell v IRC
Didn't satisfy S53(1)(C)
Or doesn't exhast trust fund
Examples
Gap in beneficial ownership- e.g. no vested interest at a period in time
Lack of certainty of object
Doesn't define beneficial interest
Offends rule against perpetuity
Offends beneficiary principle
Trustee will hold property on a resulting trust for settlor
Express trust?
Declaration of trust evidenced in signed writing
S52(1)(b) LPA 1925