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Practice notes
What is a Quistclose trust?A Quistclose trust is an example of an ‘automatic’ resulting trust, ie a trust which arises where property is transferred...
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9th Nov
Practice notes
When property markets suffer a downturn, commercial tenants with properties that are surplus to requirements face significant difficulties in...
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9th Nov
Practice notes
The second edition of the Standard Commercial Property Conditions came into force on 1 June 2004 and these conditions are incorporated into many...
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9th Nov
Precedents
This Deed is made on [insert date]PARTIES1[insert name of the owner of the Servient Land] [ of [insert address] OR incorporated in England and Wales...
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9th Nov
Practice notes
What is a letter of non-crystallisation?A letter of non-crystallisation is required by a buyer’s/lender’s solicitor to confirm that:•a floating charge...
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9th Nov
Practice notes
Coronavirus (COVID-19): The requirements to obtain an EPC before a property is sold or let can be difficult to satisfy when social distancing measures...
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9th Nov
Practice notes
There can be only one lease at a time giving a right to possession and occupation of property. Consequently, if a landlord subsequently grants a lease...
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9th Nov
Precedents
Transfer of partPrecedent transferAn adaptable Word version of the precedent form TP1 can be downloaded, saved or printed from this link:Drafting...
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9th Nov
Practice notes
The Solicitors Regulation Authority’s (SRA) Handbook (SRA Handbook 2011) which contains the Solicitors Regulation Authority’s Code of Conduct (SRA...
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9th Nov
Practice notes
The implied or deemed surrender and re-grant of a lease arises where an agreed variation of the terms of the original lease is so fundamental that the...
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9th Nov
Practice notes
The Third EditionThe third edition of the Standard Commercial Property Conditions was published on 27 April 2017. It is an update to Standard...
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9th Nov
Practice notes
A good marketable title is shown where a seller is able to deduce a good title to the property he has contracted to sell. The seller is not required...
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9th Nov
Precedents
You are applying for registration of [insert details of property] at HM Land Registry and as part of that application you must disclose any overriding...
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9th Nov
Precedents
This Deed is made on [date]Parties1[name of person releasing the covenants] [of [insert address] OR incorporated in England and Wales with company...
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9th Nov
Precedents
Under s 45 Leasehold Reform Housing and Urban Development Act 1993 (the ‘1993 Act’)Flat:[insert address and description of the Property]To:[insert...
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9th Nov

Most recent Trusts of land content

Practice notes
Claims for knowing receipt (sometimes also known as ‘unconscionable receipt’) and for dishonest assistance are sometimes referred to as ‘accessory...
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18th Jan
Practice notes
An order may be made for the payment of an occupation rent where one party leaves a property owned beneficially by both parties and the other remains...
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17th Jan
Practice notes
Where a beneficiary either:•is a minor (ie under the age of 18) and unmarried or•has attained majority or has married under that date but is required...
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15th Jan
Practice notes
The rules relating to perpetuities and accumulations stem from the common law and the provisions in the Perpetuities and Accumulations Act 1964 (PAA...
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15th Jan
Practice notes
Original trusteesTrustees will usually be appointed by the instrument that brings the trust into existence. The trust instrument should also make...
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15th Jan
Practice notes
Source and availabilitySourcesTrustees have certain powers conferred on them by statute, in particular by the Trustee Act 1925 (TA 1925) and the...
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15th Jan
Practice notes
General lawThe original trust fundFor a settlement to be effective it needs property to be subject to the trusts. When a settlement is created the...
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15th Jan
Practice notes
In principle, the office of the trustee is lifelong. Nevertheless, a trustee may retire in a number of ways:•by the exercise of a provision in the...
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15th Jan
Practice notes
In some circumstances a beneficiary will want to recover a specific asset. Tracing as a remedy will be the preferred option as the claimant seeks to...
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15th Jan
Practice notes
Definitions of charity and charitable trustThe relevant definitions for the purposes of the law in England and Wales are:•'charity' means an...
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15th Jan
Practice notes
Nature of dutiesThe difference between a duty and a power is:•the performance of a duty is obligatory•powers are to a greater or lesser degree...
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15th Jan
Practice notes
Express lifetime declarationsWhere a trust is created by an express lifetime declaration, the settlor simply declares that they hold the trust...
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15th Jan
Practice notes
The self-dealing ruleThe self-dealing rule is connected to, but distinct from, the fair dealing rule as well as the genuine transaction rule. There is...
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15th Jan
Practice notes
General investment powerThe powers possessed by trustees to administer a trust effectively emanate from statute, mainly the Trustee Act 1925 (TA 1925)...
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15th Jan
Practice notes
Variation of trustsAs a general rule trustees are bound to carry out the settlor's wishes. However, circumstances may arise where a variation is...
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15th Jan
Practice notes
Creation by transfer of property to trusteesIn practice trusts will frequently be created by a settlor transferring assets to independent trustees on...
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15th Jan
Practice notes
An interest under a trust of land can only be protected by a restriction. A restriction makes it apparent from the register that either:•the powers of...
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15th Jan
Practice notes
Note that this Practice Note deals only with trust assets comprising an interest in land.Transferring assets to a trustAssets will be transferred to a...
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15th Jan
Practice notes
Broadly, the doctrine of overreaching enables purchasers (which includes tenants and mortgagees) in good faith for money or money’s worth to rely...
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15th Jan
Practice notes
There are broadly two situations in which trusts are encountered in relation to commercial transactions:•express trusts, ie a trust which has been...
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15th Jan

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