Flashcards
Land Law Chapter 6 "Owning Property with Someone Else 2"
Flashcards do conjunto (4)
- 1What is a resulting trust?A type of implied trust. Arises when payments towards the purchase price were made at the time of the acquisition of the property (Bull v Bull)
- 2What is a constructive trust?A type of implied trust. Arise in relation to land when there is either
An express common intention (evidence of intention) to share ownership or
Inferred common intention (court will infer based on conduct of parties)
Must show claimant acted in reliance on promise to his detriment - 3How does co-ownership differ between family homes and commercial property?FH - In the absence of any express declaration of a TIC, it's presumed the home is to be held by both partners with the beneficial interest held on joint tenancy
CP - Presumption is that unequal contributions to the purchase give rise to TIC. Can be rebutted - 4Equitable interests must be in writing (s53 (1) LPA 1925) What exceptions are there to this rule?Implied, resulting and constructive trusts