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#equity #formalities #law
In Timpson’s Executors v Yerbury [1936] 20 TC 155 Romer LJ said at 182:

Now the equitable interest in property in the hands of a trustee can be disposed of by the person entitled to it in favour of a third party in any one of four different ways. The person entitled to it:

  1. Can assign it to the third party directly;
  2. Can direct the trustees to hold the property in trust for the third party (see per Sargant J in Re Chrimes [1917] Ch 30 at 36);
  3. Can contract for valuable consideration to assign the equitable interest to him; or
  4. Can declare himself to be a trustee for him of such interest.
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