812308
| Question | Answer |
| the trust for sale and the doctrine of conversion | trust for sale (imposed by LPA 1925 as originally enacted) assisted purchasers because co-owners were treated as having interests in the proceeds of sale (under doctrine of conversion) not in the land |
| Bull v Bull [1955] | retreat from the trust for sale and doctrine of conversion legal estate in A but B contributed to purchase price; held, B was co-owner in equity within LPA 1925 and so had right of joint occupation |
| Williams & Glyn's Bank v Boland [1981] | House of Lords held that, for purposes of LRA 1925 s70(1)(g) (now LRA 2002 sch 3, para 2) a beneficial interest under what was then 'a trust for sale' was nevertheless an interest in land |
| the trust of land (post-1996) | Trusts of land and appointment of trustees act 1996 abolished the trust for sale replaced it with the trust of land (which includes a power of sale) |
| post 1996 express trust for sale | can still create an express trust for sale but it is merely a type of 'trust of land' s1 (2)(a) power to postpone sale cannot be excluded doctrine of conversion abolished (except if testator died before 1997) s3 |
| S2 TLATA | no new SLA settlements may be created although existing ones continue. No need to be discussed further |
| Combined effect of LPA 1925 and TLATA is there is a trust of land whenever: | there are concurrent or successive interests in land or there is a bare trust (i.e. A holds land in trust for B) (TLATA s1(2)(a)) |
| S6(1) TLATA 1996 | for the purpose of exercising their functions as trustees the trustees of land have... all the powers of an absolute owner |
| trustee act 2000 s1(1) | standard of care |
| S6(5) TLATA | must have regard to the rights of beneficiaries |
| s6(6) TLATA | must not exercise their powers in contravention of any rule of law or equity |
| equitable duties of a trustee | must act in beneficiaries best interests, even-handedly, exercise powers for their proper purpose; must not act capriciously or put themselves into position of conflict |
| s6,7,8 TLATA | if the trust instrument requires consent to the exercise of the trustees general powers (s6) or their power to partition (s7) the power may not be exercised without that consent (s8 (2)) |
| S11 TLATA | duty to consult adult beneficiaries with the interests in possession |
| s6(5) TLATA | trustees are also under a duty in equity to act even-handedly between the beneficiaries and must act in the best interests of all the beneficiaries including those without interests in possession |
| s12 TLATA 1996 | beneficiary with interest in possession has basic right to ocucpy |
| Chan v Leung (Chun v Ho) [2003] | 'unsuitable' for occupation |
| Re Barcham [2008] | a beneficiary's trustee in bankruptcy has no right to occupy since the land is 'unsuitable' for occupation by such a person |
| Rodway v Landy [2001] | s13 exclusion and restriction of right to occupy |
| Dennis v McDonald [1981] | an occupation rent could be awarded before TLATA |
| Stack v Dowden [2007] | Lady Hale said that the criteria in TLATA should be applied but results may be the same |
| Pasco 'right to occupy under a trust of land: muddled legislative logic?' [2006] | take a read |
| ss12-13 | For these sections to be workable sections must be interpreted as ousting the absolute right of occupation of a beneficial co-owner who is not also a legal owner |
| s7,8 TLATA 1996 | partitioning trustees may be able to partition the land amongst the beneficiaries involves registration of new separate titles at land registry |
| s8 Trustee act 2000 s6(3) TLATA 1996 | trustees power to acquire land exclusion of land abroad power is in TA 2000 not in TLATA |
| s14 TLATA 1996 | applications to the court |
| S15 TLATA 1996 | matter to which a court must have regard in a s14 application |
| Bank of Ireland Home Mortgages Ltd v Bell [2001] | less weight is attached to the welfare of a minor if he or she is nearly 18 (s14 application) |
| s15(4) TLATA | s14 does not apply to an application by a trustee in bankruptcy if the insolvency act 1986 s335 A applies |
| insolvency act 1986 s335A | application by a trustee in banktruptcy |
| Re Bremner [1999] | exceptional circumstances in relation to s335A(3) and bankruptcy applications |
| Barca v Mears [2004] | compatibility with ECHR art 8 para 39 application in bankruptcy |
| Lloyds Bank PLC v Byrne and Byrne [1993] | Pre 1997 claims of a secured creditor (like those of a trustee in bankruptcy) usually prevailed |
| Bank of Ireland home mortgages Ltd v Bell [2001] | what position is a secured creditor now in after TLATA seems to be in no better position |
| S10 TLATA | if the trust instrument requires the consent of more than two persons to be obtained a purchaser is protected if the consent is obtained of any two in registered titles the obligation to obtain consent can and should be protected by entry of a restriction |
| s26(3) LRA 2002 | in effect the title of the disponee cannot be questioned where A sells and transfers the land to a purchaser P in breach of trust where the trust is not apparent from the register |
| If the trust is not apparent from the register of title and A sells and transfers the land to P in breach of trust | as P did not overreach will take subject to B's rights as beneficiary if B is in actual occupation within lra 2002 sch 3 unless inquiry was made of B and B failed to disclose the right more likely to occur if P is a later mortgagee rather than a purchaser |
| if a trustee sells and transfers land in breach of trust to a purchaser who takes free of the beneficiary's interest because of overreaching or B is not in actual occupation then although's P title cannot be upset... | Trustee may be personally liable to pay equitable compensation for breach of trust P may be personally liable to pay equitable compensation to B if P dishonestly assisted in the breach of trust |
Want to create your own Flashcards for free with GoConqr? Learn more.