The following Property Disputes Q&A provides comprehensive and up to date legal information covering:
Regarding whether or not there is any argument that any sort of trust has arisen, where property is held in the name of one party only, that person is presumed to be the owner of the entire beneficial interest as well, unless (in the absence of an express declaration of trust) another party can establish an interest under an implied, ie a resulting or ‘common intention’ constructive trust or by the operation of a proprietary estoppel. The party alleging an interest has the burden of proving it. Claims are made under the Trusts of Land and Appointment of Trustees Act 1996 (TOLATA 1996). Any person who has an interest under a trust of land may apply to the court under TOLATA 1996, s 14 for an order under that section. The court may make such order as it thinks fit in relation to the nature or extent of a person’s interest in the trust property. See Practice Note: Trusts of Land and Appointment of Trustees Act 1996.
A resulting trust generally requires contribution to the initial purchase price and therefore where later or unanticipated financial contributions are made, the non-owning party is more likely to try to rely on a common intention constructive trust, where later contributions can be taken into account. While conduct sufficient to justify the inference of a common intention has
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This Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing ratio•leverage ratio (or debt to equity ratio)•current ratio (or acid test ratio)•cashflow ratio•interest cover ratio, and•loan to value ratioIt explains:
On the disposition of a property (whether by way of conveyance, transfer or charge), the party making the disposition will normally provide a title guarantee which implies standard form covenants for title. A landlord may give a title guarantee when granting a lease, but this is rare in practice.
The principles of the notarial act are that it is:•an act of the notary and not of the parties named in the document•a record of a fact, event or transaction•in the form of a document, notwithstanding the form of the underlying document, fact, event or transactionThe purpose of the notarial act is
A certificate of title (also known as a certificate on title) is a particular species of report on title.When solicitors are instructed to investigate title to land (for instance, when land is being acquired or offered up as security), they will write a report on title for their client, which sets
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