Trust Deeds: The deed in the drawer

Exchange Chambers | Trusts and Estates Law & Tax Journal | November 2016 #181
Lisa Feng examines the implications of Swift v Ahmed [2015] ‘The issue for the court was whether a real and substantial purpose of the deed was to place assets beyond the reach of (or otherwise prejudice the interests of) the trustee’s creditors.’The case of Swift Advances Plc v Ahmed [2016] is an example of what …

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Swift v Ahmed [2015] EWHC 3265 (Ch)

Wills & Trusts Law Reports | July/August 2016 #161

Mr Ahmed (the first defendant) claimed to have purchased a property known as ‘High Elm’ in his sole name in 1995. In 1996 Mr Ahmed and his wife Mrs Ahmed (the second defendant) executed a deed which purported to record that Mr Ahmed held on trust for Mrs Ahmed all the significant assets that he owned, including High Elm. The proprietorship register in respect of High Elm showed that Mr Ahmed had become the registered proprietor in November 2006 (which Mr Ahmed did not accept, but was unable to explain), and that at the same time he had granted a first charge over High Elm in ...

Ali v Bashir & anr [2014] EWHC 3853 (Ch)

Wills & Trusts Law Reports | March 2016 #157

The first and second defendants are a married couple. The defendants purchased 17 Blackmore Crescent, Woking, Surrey (the property) in 1997. The purchase was financed in part using a loan secured on the property.

By declaration of trust dated 14 January 1998 (the trust deed), the first defendant transferred his beneficial interest in the property to the second defendant. Under the terms of the trust deed, the property was to be held upon trust for the second defendant, who was to have sole use and occupation of the property and was to indemnify the first defendant in respect of th...