Commentary

10 Equitable interests in personalty

CHOSES IN ACTION vol 7
| Commentary

10 Equitable interests in personalty

| Commentary

10 Equitable interests in personalty

Equitable interests may exist in personalty such as money, shares or policies of insurance. Thus, for instance, a person may be entitled to a life interest in the income of a trust fund consisting of a portfolio of shares, and the same principles apply as in the case of trusts of real property1. Similarly, a specifically enforceable agreement to create or transfer legal or equitable title to personal property will usually transfer equitable ownership of the property, thereby creating a trust of it2.

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