Trusts of land

Trusts of land guidance:

When a bankruptcy order is made, a bankrupt’s property normally automatically vests in the Official Receiver/trustee in bankruptcy. However, property owned by the...

Practice Note

Capacity to sell Trustees of land have all the powers of an absolute owner in relation to the land which is subject to the trust. A buyer from trustees of land is not...

Practice Note

This Practice Note set out some of the key issues to be considered when acting on the purchase of a property from a Self-Invested Personal Pension (SIPP) or a Small...

Practice Note

Co-ownership Where property is purchased in the joint names of two or more co-owners a statutory ‘trust of land’ arises. Trustee Act 1925, s 34(2) limits the number of...

Practice Note

Definitions of charity and charitable trust The relevant definitions for the purposes of the law in England and Wales are: • 'charity' means an institution which ◦ (a) is...

Practice Note

So that the Transferor can give a good receipt for the purchase money, [insert details of sole surviving registered proprietor or estate owner] in exercise of [his OR...

Precedents

Millett LJ subdivided types of constructive trust into two categories, distinguishing between: • the constructive trust proper, where equity intervenes to prevent the...

Practice Note

Express lifetime declarations Where a trust is created by an express lifetime declaration, the settlor simply declares that they hold the trust property on trust for the...

Practice Note

Creation by transfer of property to trustees In practice trusts will frequently be created by a settlor transferring assets to independent trustees on the basis that the...

Practice Note

This Declaration of Trust is made on [insert date] between [insert full name of husband] of [insert address] (the Husband) and [insert full name of wife] of [insert...

Precedents

This Declaration of Trust is made on [insert date] Parties 1 [insert full name of the first joint tenant] of [insert address] 2 [insert full name of the second joint...

Precedents

This Declaration of Trust is made on [insert date] Parties 1 [insert name of the first joint tenant] of [insert address] and 2 [insert name of the second joint tenant] of...

Precedents

Date [insert date of deed in its full format DD-Month-Year] Parties 1 [insert full name of Trustee] [incorporated in England and Wales with company registration number...

Precedents

This declaration of trust is made on [insert date] between: Parties 1 [insert name of the first joint tenant] of [insert address]; and 2 [insert name of the second joint...

Precedents

This Declaration of Trust is made on [insert date in its full format Day-Month-Year] Between [insert full names of tenants in common] of [insert addresses] ('the...

Precedents

This [Deed OR Agreement] is dated [date] Parties 1 [insert name of Assignor][ of [insert address] OR incorporated in England and Wales with company registration number...

Precedents

Where two or more people together own real property, they hold it under a trust of land. Where property is held on a trust of land, the legal estate and equitable estate...

Practice Note

Cohabitants and other co-owners or co-occupiers of property, often fail to specify the extent of their respective beneficial interests in the shared home. This can create...

Practice Note

On and after 6 April 2009 title to unregistered land held on trust is subject to compulsory first registration when it vests in a new trustee by: • a deed of appointment...

Practice Note

Cohabitants and other co-owners or co-occupiers of property, often fail to specify the extent of their respective beneficial interests in the shared home. This can create...

Practice Note

The Law Society and HM Land Registry have published a joint practice note in respect of joint property ownership. This was prompted by recent court decisions which have...

Practice Note

Claims for knowing receipt (sometimes also known as ‘unconscionable receipt’) and for dishonest assistance are sometimes referred to as ‘accessory liability’ in that they...

Practice Note

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 the relevant...

Practice Note

Limitation of trustees’ liability—lease clauses Trustees means the persons named as [Landlord OR Tenant] in this lease and any person appointed as trustee of [name of...

Precedents

Broadly, the doctrine of overreaching enables purchasers (which includes tenants and mortgagees) in good faith for money or money’s worth to rely solely on the legal...

Practice Note

The rules relating to perpetuities and accumulations stem from the provisions in the Perpetuities and Accumulations Act 1964 (PAA 1964) and from common law. These...

Practice Note

The rule against perpetuities The Perpetuities and Accumulations Act 2009 (PAA 2009) came into force on 6 April 2010. It seeks to modify and simplify the law by making...

Practice Note

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 by one party to...

Practice Note

Resulting trusts represent one of the three types of trust which do not require to be declared or evidenced in writing. The others are constructive and implied trusts,...

Practice Note

Severance is the process by which a joint tenancy is converted into a tenancy in common. It is a matter of evidence whether severance has occurred. There are limitations:...

Practice Note
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