Whatever the date of the instrument, or the purpose of the accumulation, not being for the payment of debts or incumbrances1, trusts and provisions for accumulation are subject to the rule against perpetuities. A trust for accumulation for any period for the benefit of any person is not invalid, however, if the person has a vested interest, since in this case he is not bound to wait until the expiration of the fixed period, but may stop the accumulation and require payment the moment he is competent to give a valid discharge2. This principle applies in the case of
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Millett LJ subdivided types of constructive trust into two categories, distinguishing between:•the constructive trust proper, where equity intervenes to prevent the legal owner from unconscionably denying the beneficial interest of another (known as the institutional constructive trust)•the
Commercial Property Standard Enquiries (CPSEs) are industry standard pre-contract enquiries used in commercial property transactions. CPSEs are endorsed by the British Property Federation and are free to use. The CPSEs include specific environmental enquiries at enquiry 15 and there are several
Disposal and devolutionThe equity of redemption arises as soon as the mortgage is made. It is an interest in the land which the mortgagor can:•transfer, lease or mortgage inter vivos, or•by will (it passes on intestacy)No cloggingIt is a fundamental principle of a mortgage that there must be no clog
The Standard Conditions of Sale (SCS), currently in their 5th edition (2018 revision), are a set of standard conditions which are commonly incorporated into contracts for the sale of residential property. The Standard Commercial Property Conditions (Third Edition—2018 Revision) (SCPC) are used for
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