The Settlor

Description

(Equity and Trusts) Mind Map on The Settlor, created by scott.james.smit on 16/04/2013.
scott.james.smit
Mind Map by scott.james.smit, updated more than 1 year ago
scott.james.smit
Created by scott.james.smit over 11 years ago
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Resource summary

The Settlor
  1. contract or simple giving
    1. two reasons for a trust
      1. 1) Created out of intention to make a gift to someone
        1. 2) trusts created out of a longer transaction
          1. investment purposes: pensions etc
      2. irrevocability of trusts
        1. Paul v Paul
          1. exception where trust contains an express clause
        2. constituting the trust
          1. Settlor must vest legal title in trustee
            1. LPA 1925 s53(1)(b) declaration of trust must be signed in writing
            2. Milroy v Lord: Failed gift cannot amount to a trust
              1. Re Rose: There will be a constructive trust where the settlor has done everything he needs to do to constitute the trust
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