Is a sub-trust a disposition for the purposes of s53(1)(c) of the Law of Property Act 1925? Mark Pawlowski and James Brown assess the current position ‘When an intermediate trustee makes a declaration of trust of their equitable interest, they do not deprive themselves of that interest but simply create a second equitable interest held …
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Wills & Trusts Law Reports | July/August 2015 #151The appeal arose from one of what were originally ten test cases in which the defendant home owners (the vendors) were persuaded to sell their properties to purchasers (the purchasers) who promised the vendors the right to remain in their homes after the sale. The purchasers bought the homes with the assistance of mortgages from lenders (the lenders), who were not given notice of the promises to the vendors. Neither the rights of occupation promised by the purchasers to the vendors nor the tenancies granted by the purchasers were permitted by the lenders’ mortgage. Exchange of contracts ...
Mark Pawlowski considers the Court of Appeal’s decision in Pankhania v Chandegra, which discusses whether express declarations of trust are conclusive The Law Commission endorsed the conclusive nature of the declaration of trust in the context of transfers of title to joint owners, stating that, ‘it is essential that courts strictly enforce declarations of trust …
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Mark Pawlowski considers the Court of Appeal’s decision in Pankhania v Chandegra, which discusses whether express declarations of trust are conclusive An express trust may only be challenged on specific grounds that permit rescission or rectification of the formal document. It is accepted as established law that, where the parties execute a trust expressly declaring …
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