The Settlor

scott.james.smit
Mind Map by scott.james.smit, updated more than 1 year ago
scott.james.smit
Created by scott.james.smit almost 7 years ago
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(Equity and Trusts) Mind Map on The Settlor, created by scott.james.smit on 04/16/2013.
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The Settlor
1 contract or simple giving
1.1 two reasons for a trust
1.1.1 1) Created out of intention to make a gift to someone
1.1.2 2) trusts created out of a longer transaction
1.1.2.1 investment purposes: pensions etc
2 irrevocability of trusts
2.1 Paul v Paul
2.1.1 exception where trust contains an express clause
3 constituting the trust
3.1 Settlor must vest legal title in trustee
3.1.1 LPA 1925 s53(1)(b) declaration of trust must be signed in writing
3.2 Milroy v Lord: Failed gift cannot amount to a trust
3.3 Re Rose: There will be a constructive trust where the settlor has done everything he needs to do to constitute the trust
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