| Commentary

278 Equities

| Commentary

278 Equities

The bankrupt’s interest in the property passes to his trustee subject to the same equities as it was subject to in the hands of the bankrupt. The trustee is not a buyer, and therefore takes subject to all equitable interests in the property. But, further, as the trustee in bankruptcy takes no better title than that already held by the bankrupt he also takes subject to mere equities and therefore:

  1. 278.1

        it will sometimes be alleged that an express declaration of trusts which on the face of it determines the equitable ownership ought to be rectified in equity,

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