SECRET TRUSTS

costafortune
Mind Map by , created over 6 years ago

Degree Equity and Trusts Mind Map on SECRET TRUSTS, created by costafortune on 05/01/2013.

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costafortune
Created by costafortune over 6 years ago
DUTIES OF TRUSTEES
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Equitable Remedies
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Certainty of Objects
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GCSE AQA Citizenship Studies: Theme 1
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PHR and SPHR Practice Questions
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Equity and Trusts, Express Trusts
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Express Trusts- constitution and formalities
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Equitable Maxims
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3 CERTAINTIES
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HALF SECRET TRUSTS
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SECRET TRUSTS
1 3 required elements
1.1 Intention
1.1.1 Communication
1.1.1.1 Acceptance
1.1.1.1.1 Either expressly or by acquiescence OTTOWAY V NORMAN
1.1.1.2 WALLGRAVE V TEBBS Effective terms must be communicated, within testators lifetime
1.1.1.3 If terms not communicated will be a resulting trust RE BOYES
1.1.1.4 Communication must be of a legally binding obligation not just a moral obligation. McCORMICK V GROGAN
1.1.2 Must show intention or trustee will take absolutely
2 If trustees won't take on secret trust will result back
2.1 Once trust established if add extra property or beneficiaries
2.1.1 RE COLIN COOPER
2.1.1.1 Must be communicated to and accepted by trustees
3 Problems with co-owners
3.1 Tenants in Common
3.1.1 Joint Tenants
3.1.1.1 RUSSELL V JACKSON survivorship if not told at all, take absolutely
3.1.1.1.1 If 1 JT told prior to execution of will, ALL JT's will be bound
3.1.1.1.1.1 If told after execution, will only be bound if accept
3.1.2 RE STEAD If only 1 trustee informed, then only 1 is bound. Must be informed in testators lifetime
4 Death of Beneficiary
4.1 Trust operates outside of a will so property will pass to deceased beneficiaries next of kin
4.2 RE GARDNER

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