Where property bought with earlier payments out of the bank account has gone up in value, it would be to the claimant’s advantage to trace his money into this property rather than simply claiming his money in the account. The starting point is that where a trustee wrongfully uses trust money mixed with his own, whether in one bank account or using money from the trust account with money from his own account, to buy an asset, the beneficiary is entitled at his option either to claim a proportionate share of the asset or to enforce a lien upon it to secure a personal claim against the trustee for the amount of the misapplied money
Answer
Foskett v McKeown [2001] 1 AC 102 at 131.
Tags
#equity #law #tracing
Question
Where property bought with earlier payments out of the bank account has gone up in value, it would be to the claimant’s advantage to trace his money into this property rather than simply claiming his money in the account. The starting point is that where a trustee wrongfully uses trust money mixed with his own, whether in one bank account or using money from the trust account with money from his own account, to buy an asset, the beneficiary is entitled at his option either to claim a proportionate share of the asset or to enforce a lien upon it to secure a personal claim against the trustee for the amount of the misapplied money
Answer
?
Tags
#equity #law #tracing
Question
Where property bought with earlier payments out of the bank account has gone up in value, it would be to the claimant’s advantage to trace his money into this property rather than simply claiming his money in the account. The starting point is that where a trustee wrongfully uses trust money mixed with his own, whether in one bank account or using money from the trust account with money from his own account, to buy an asset, the beneficiary is entitled at his option either to claim a proportionate share of the asset or to enforce a lien upon it to secure a personal claim against the trustee for the amount of the misapplied money
Answer
Foskett v McKeown [2001] 1 AC 102 at 131.
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Parent (intermediate) annotation
Open it to buy an asset, the beneficiary is entitled at his option either to claim a proportionate share of the asset or to enforce a lien upon it to secure a personal claim against the trustee for the amount of the misapplied money: Lord Millett in <span>Foskett v McKeown [2001] 1 AC 102 at 131.<span><body><html>
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