School of Law LAW OF PROPERTY II EQUITY & TRUSTS Syllabus The nature of equity and the trust Express trusts o Certainty of intention‚ subject matter and objects o The beneficiary principle o The constitution of trusts o The duties of trustees and breach of trust Resulting trusts Quistclose trusts Constructive trusts Trusts of homes Personal liability to account Tracing Lecture - Course Documents 2009-10 1 Queen Mary University of London School of Law LAW OF PROPERTY
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LAW317 – Express Trusts Ways to create a trust 1) Declaration – where a title holder expresses his or hers intention to hold their property on trust for another. 2) Transfer - where title is transferred to a person with instructions that it be held on trust for another. - inter vivos occurs during the life of the person (referred to as a ‘settlement’). It may be for consideration or a gift. (NB: Equitable Assignment check list). - post mortem occurs after the death of the person (in
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with the customs and traditions of the Roman Catholic and Church; II. That my properties are as follows: A. Immovable Property: B. Movable Property: III. That should the Lord Almighty finally summon this soul from its earthly abode‚ it is my wish and desire to bequeath‚ grant and devise my properties above-mentioned‚ as follows: 1. To my beloved wife …………………………………………… I hereby bequeath the properties known as NOS………………‚ ………………………‚ ……………………… …; 2. To my esteemed children‚ ………………………
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Indemnity – s 12 1979 Act Mr S transferred some flats to Mr Chung at undervalue. Owners who are unable to pay their creditors – unjust for them to do so. Soon after the transfer Mr S was sequestrated. Trustee set about trying to recover the properties. By then there was a further transfer from Mr C to Mrs C for no value. The disposition by Mr S was voidable and since Mrs C was not a purchaser in good faith the disposition to her was voidable too. The titles were in the Land register
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Property A Assignment In the case of Occupiers of 51 Olivia Road‚ Berea Township and 197 Main Street Johannesburg v City of Johannesburg and Others[1]‚ the city wanted to evict people from their place of residence in Johannesburg. In the case‚ Yacoob J spoke at great lengths about the notions of meaningful engagement and reasonableness when one party is requiring an eviction order from the courts. Section 26 of the Constitution of the Republic of South Africa‚ 1996‚ talks about both meaningful
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Community property. b. Tenancy in common with each other. c. Joint tenancy with rights of survivorship. d. Tenancy by the entirety. The correct answer is c. When one owner dies owning property held as
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6(1) – PROPERTY LAW Capitalist society – incentive to obtain assets and a system to protect these assets. Capitalist is more about individual rights‚ self-accumulation of wealth. Communist country – more about ‘public’ rights – the state owns property and chooses some system of distribution. Prevents exploitation of natural resources e.g. gold‚ trees‚ fishing areas e.g. around Australia. TYPES OF PROPERTY Physical and intangible property (copyrights‚ trademarks and patents). Property RE spiritual
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Discussion Board Forum 3 Harriet Sanders Liberty University Barney is dealing with several legal issues involving his property in this case. As a spiritual friend and attorney of Barney‚ I will advise him of his legal rights and obligations regarding his property. Then‚ I will remind Barney not to make any sudden decisions before asking God for assistance. James 5:11 (English Standard Version) states‚ “Behold‚ we consider those blessed who remained steadfast. You have heard of the steadfastness
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TABLE OF CONTENT Contents Page Introduction …………………………………………………………………………………….4 Definitions Land…………………………………………………………………………………...…6 Concurrent Ownership………………………………………………………………......6 Real Property……………………………………………………………………………..6 Concurrent Ownership………………………………………………………………................7 Forms of Concurrent Ownerships……………………………………………………………....7 Joint Tenancy……………………………………………………………………………7 Features of Joint Tenancy…………………………………………………….....7 Tenants in Common……………………………………………………………………
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Our case study opens painting a picture of a law enforcement officer that has decided to retire after many years of service as a deputy in a small town in North Carolina and a detective in Raleigh. Martin‚ our law enforcement officer appears to be less than adequate in his occupation‚ however‚ he has been able to save his earnings and invested his money wisely in prime North Carolina mountain real estate and a second home on coastal property in North Carolina. After many years of working Martin just
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