47555
Description
Mind Map by scott.james.smit, updated more than 1 year ago
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Created by scott.james.smit
about 11 years ago
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The Settlor
- contract or simple giving
- two reasons for a trust
- 1) Created out of intention
to make a gift to someone
- 2) trusts created out of a
longer transaction
- investment
purposes:
pensions etc
- investment
purposes:
pensions etc
- 1) Created out of intention
to make a gift to someone
- two reasons for a trust
- irrevocability of trusts
- Paul v Paul
- exception where trust contains an
express clause
- exception where trust contains an
express clause
- Paul v Paul
- constituting the trust
- Settlor must vest legal title in trustee
- LPA 1925 s53(1)(b) declaration of trust must
be signed in writing
- LPA 1925 s53(1)(b) declaration of trust must
be signed in writing
- Milroy v Lord: Failed gift cannot
amount to a trust
- Re Rose: There will be a constructive
trust where the settlor has done
everything he needs to do to constitute
the trust
- Settlor must vest legal title in trustee
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