However, the concept of a trust, and the need to recognise a division of ownership between legal and equitable title, will arise in numerous situations. For example, where land is gifted to a minor, that individual cannot legally own/hold the estate – LPA 1925, s 1(6). A trust will therefore necessarily be created whereby legal title will be held by the trustee(s) and the equitable title will be held by the minor. The latter will retain an equitable/beneficial interest under that trust. Note that an express declaration of trust in relation to land must be evidenced in signed writing in accordance with [statute]. Another example of where a trust will arise is where property is co-owned.
Answer
LPA 1925, s 53(1)(b)
Tags
#interests #land #law
Question
However, the concept of a trust, and the need to recognise a division of ownership between legal and equitable title, will arise in numerous situations. For example, where land is gifted to a minor, that individual cannot legally own/hold the estate – LPA 1925, s 1(6). A trust will therefore necessarily be created whereby legal title will be held by the trustee(s) and the equitable title will be held by the minor. The latter will retain an equitable/beneficial interest under that trust. Note that an express declaration of trust in relation to land must be evidenced in signed writing in accordance with [statute]. Another example of where a trust will arise is where property is co-owned.
Answer
?
Tags
#interests #land #law
Question
However, the concept of a trust, and the need to recognise a division of ownership between legal and equitable title, will arise in numerous situations. For example, where land is gifted to a minor, that individual cannot legally own/hold the estate – LPA 1925, s 1(6). A trust will therefore necessarily be created whereby legal title will be held by the trustee(s) and the equitable title will be held by the minor. The latter will retain an equitable/beneficial interest under that trust. Note that an express declaration of trust in relation to land must be evidenced in signed writing in accordance with [statute]. Another example of where a trust will arise is where property is co-owned.
Answer
LPA 1925, s 53(1)(b)
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Open it ble title will be held by the minor. The latter will retain an equitable/beneficial interest under that trust. Note that an express declaration of trust in relation to land must be evidenced in signed writing in accordance with <span>LPA 1925, s 53(1)(b). Another example of where a trust will arise is where property is co-owned.<span><body><html>
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