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Constructive Trusts - Coggle Diagram
Constructive Trusts
Trusts of Land and Appointment of Trustees Act 1996 (TOLATA) TOC p.44
The trustee has all the powers which are incident to ownership but the beneficiary is entitled to all the beneficial aspects of ownership, person who manages the land TOC p.44
• A trust is a relationship in which a trustee holds the legal title to property TOC P.44
This beneficiary is described as having an equitable interest in the property TOC P.44
trustees are the legal co-owners and the beneficiaries are the equitable co-owners of property subject to a trust TOC p.44
S.14 allows for court orders TOC p.83
S.15 Highlights what the court is to take into account for a court order TOC p.84
Constructive/Equitable Trusts
Jones v Kernott
Lady Hale: Presume the sole equitable owner TOC P.11
Lady Hale: Presumptions can be rebutted TOC P.11
The Supreme Court in Jones v Kernott held that resulting trusts should not now be used to decide cases relating to the home. TOC p.54
Gissing: The wife made no contrubtion to the purcahse price and had no equity TOC p.56
Constructive trusts (like these) became the key concept TOC p.57-62 for more examples
• Therefore in, Stack v Dowden and Jones v Kernott the claimants received shares of the equitable interest which mirrored their total cash contributions over the years TOC p.54
Lloyds Bank plc v Rosset [1991
It was held (in the absence of any express common intention) she could only acquire such an interest if she made direct financial contributions to the purchase price or the mortgage instalments TOC p 12
Abbott v Abbott [2007]
on this occasion acquisition was not in question, as the legal owner had already conceded that his wife had a beneficial interest TOC p .12
• Applying Stack, a holistic view of the facts should be taken in modern times
where two or more persons are entitled to the simultaneous enjoyment of land e.g. Married couple TOC 9
Trusts of Land and Appointment of Trustees Act 1996 (TOLATA) TOC p.44