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Chapter

Cover Complete Equity and Trusts

12. The appointment of trustees  

Titles in the Complete series combine extracts from a wide range of primary materials with clear explanatory text to provide readers with a complete introductory resource. This chapter discusses the following: the different types of trustee; the number of trustees required; the general duties of trustees; trustee decision making; disclaiming trusteeship; who is eligible to be a trustee; who has power to appoint trustees, express and statutory powers; the appointment of trustees by the beneficiaries; the appointment of trustees by the court; the vesting of the legal estate in the trustees; the retirement of trustees; and the removal of trustees; protection of beneficiaries.

Chapter

Cover Equity and Trusts Concentrate

11. Trustees’ duties and powers  

Each Concentrate revision guide is packed with essential information, key cases, revision tips, exam Q&As, and more. Concentrates show you what to expect in a law exam, what examiners are looking for, and how to achieve extra marks. This chapter discusses the main duties and powers of trustees. Rather than rigidly separating duties and powers, it presents the duties and powers of trustees in a way which reflects how they might arise during the operation of a trust. It first addresses the initial questions of the appointment, removal, and payment of trustees. It then examines issues arising on appointment to the trust and the fiduciary nature of trustees’ duties. Finally, it examines issues likely to arise during the administration of the trust, including the trustees’ powers of investment, beneficiaries’ right to information about the trust, and trustees’ powers of maintenance and advancement.

Chapter

Cover Pearce & Stevens' Trusts and Equitable Obligations

28. Powers of maintenance and advancement  

This chapter discusses the trustees’ powers of maintenance and advancement. The powers of trustees can be divided into two categories: management powers and distributive powers. Management powers are those which relate to looking after the trust property, for instance, investing a fund or insuring a property. Distributive powers are those which relate to deciding who benefits. Generally the decision as to benefit will have been made by the settlor, by creating a fixed trust, by giving the decision to trustees through a discretionary trust, or by conferring a power of appointment on the trustees or a third party. In addition to this, however, there are some instances where trustees can make a decision as to who benefits from a trust fund, even where not expressly provided for by the settlor.

Chapter

Cover Land Law Concentrate

9. Trusts of land  

Each Concentrate revision guide is packed with essential information, key cases, revision tips, exam Q&As, and more. Concentrates show you what to expect in a law exam, what examiners are looking for, and how to achieve extra marks. This chapter discusses trusts of land. The creation of concurrent interests in land generally now occurs by way of a trust of land, governed by the Trusts of Land and Appointment of Trustees Act 1996 (TLATA) and replacing their forerunner, trusts for sale. Trusts of land may be expressly or impliedly created and, where implied, may be resulting or constructive trusts. Key provisions of TLATA 1996 include: ss 6–8 governing the extent of trustees’ powers over the trust property; s 11 governing the circumstances in which trustees have a duty to consult beneficiaries when exercising their powers; ss 12–13 governing the rights of beneficiaries to occupy the trust property; and ss 14–15 governing the right of an interested party to make an application to the court for an order to resolve a dispute over trust land.

Chapter

Cover Complete Land Law

7. Trusts of Land  

Titles in the Complete series combine extracts from a wide range of primary materials with clear explanatory text to provide readers with a complete introductory resource. This chapter discusses the three types of trust under the old law which operated prior to the commencement of the Trusts of Land and Appointment of Trustees Act 1996 (TOLATA 1996). It also presents criticism of the old law governing bare trusts of land; criticisms of strict settlements and the Settled Land Act 1925; criticisms of the trust for sale; the definition of a trust of land; the need for two trustees for a trust of land; appointment, retirement, and removal of trustees; method of appointment of trustees; unanimity of trustees; the powers of disposition of trustees of land; duties on exercising their powers; exclusion and restriction on trustees of land powers of disposition; and delegation of trustees; powers to beneficiaries.

Chapter

Cover Textbook on Land Law

14. Trusts of land  

Course-focused and comprehensive, the Textbook on Land Law provides an accessible overview of one key area on the law curriculum. This chapter begins by discussing changes introduced by the Trusts of Land and Appointment of Trustees Act 1996 (TOLATA 1996). The operation of the new trust of land is regulated by Part 1 of TOLATA 1996, and the rest of the chapter deals with these provisions. These are illustrated by reference to: Mary Brown, the owner of 10 Trant Way, who needs advice about creating a settlement in her will; and six students who hold 8 Trant Way as co-owners, and are therefore subject to a statutory trust of land. Three special dispositions which would previously have created Settled Land Act settlements but now give rise to trusts of land are also identified.

Chapter

Cover Equity & Trusts

6. Non-Charitable Purpose Trusts  

Paul S Davies and Graham Virgo

All books in this flagship series contain carefully selected substantial extracts from key cases, legislation, and academic debate, providing able students with a stand-alone resource. This chapter discusses non-charitable purpose trusts and how they are generally considered as void because there are no ascertainable beneficiaries who are able to enforce the trust. There are a variety of mechanisms that can be adopted to implement a non-charitable purpose, including the use of fiduciary powers and the appointment of enforcers to enforce the trust. In exceptional cases, non-charitable purpose trusts can be considered valid, but only if it can be shown that the purpose directly or indirectly benefits ascertained individuals. Testamentary trusts for certain recognized purposes, such as for animals, may also be exceptionally recognized as valid, in which case, the trustees are not obliged, but have the option, to carry out the trust.

Chapter

Cover The Principles of Equity & Trusts

14. Dispositive Powers and Duties  

This chapter examines the powers and duties of trustees relating to the distribution of trust property to beneficiaries or objects. It explains that dispositive powers enable the trustees to exercise a discretion relating to the distribution of trust assets and dispositive duties requires them to act in a particular way or to make a particular decision. This chapter also discusses the underlying principles of the duty to distribute and the powers of appointment, maintenance, and advancement. The chapter further considers a variety of principles which are applicable to determine how powers of appointment should be exercised, what happens when the power is not exercised properly, and mechanisms to assist trustees in the exercise of these powers.

Chapter

Cover The Principles of Equity & Trusts

14. Dispositive Powers and Duties  

This chapter examines the powers and duties of trustees relating to the distribution of trust property to beneficiaries or objects. It explains that dispositive powers enable the trustees to exercise a discretion relating to the distribution of trust assets and dispositive duties requires them to act in a particular way or to make a particular decision. This chapter also discusses the underlying principles of the duty to distribute and the powers of appointment, maintenance, and advancement. The chapter further considers a variety of principles which are applicable to determine how powers of appointment should be exercised, what happens when the power is not exercised properly, and mechanisms to assist trustees in the exercise of these powers.

Chapter

Cover Land Law

13. Regulating Co-ownership: The Content Question  

All books in this flagship series contain carefully selected substantial extracts from key cases, legislation, and academic debate, providing able students with a stand-alone resource. This chapter discusses the internal regulation of co-ownership. It is concerned with the content question: the rights enjoyed by co-owners, including their rights and duties in relation to each other, and whether one co-owner can insist on a sale of the land against the wishes of another. The joint tenancy and the tenancy in common are two forms of co-ownership. The chapter explores the operation of survivorship in respect of a joint tenancy and the process through which a joint tenant may become a tenant in common through severance. Co-ownership is terminated once there is a sole legal and equitable owner. The process of partition can also terminate co-ownership. In both forms of co-ownership, the rights and duties of the co-owners are governed through the imposition of a trust of land, regulated by the Trusts of Land and Appointment of Trustees Act 1996 (TOLATA 1996). TOLATA 1996 contains a procedure enabling disputes relating to land held on trust to be determined by an application to court. The chapter considers how the courts have resolved disputes between the beneficiaries as to whether land should be sold. The chapter also considers the relationship between TOLATA 1996 and ‘home rights’ (of occupation) conferred by the Family Law Act 1996.

Chapter

Cover Land Law

14. Co-ownership and Third Parties: Applications for Sale  

All books in this flagship series contain carefully selected substantial extracts from key cases, legislation, and academic debate, providing able students with a stand-alone resource. This chapter considers applications for sale of land held on trust, which are brought by third parties; typically creditors and trustees in bankruptcy of a beneficiary. The chapter explores the different legislation and rules that apply depending on whether the application is made by a creditor or a trustee in bankruptcy. Since the Trusts of Land and Appointment of Trustees Act 1996 (TOLATA 1996), applications made by creditors are considered under the general provisions of that Act, while those by trustees in bankruptcy are considered under the Insolvency Act 1986.

Chapter

Cover Textbook on Land Law

14. Trusts of land  

Course-focused and comprehensive, the Textbook on Land Law provides an accessible overview of one key area on the law curriculum. This chapter provides an overview of the Trusts of Land and Appointment of Trustees Act 1996 (TOLATA 1996), with a special focus on the impact of the Act on the rights of beneficiaries and the duties of trustees under settlements of land created after 1 January 1997. These are illustrated by reference to: Mary Brown, the owner of 10 Trant Way, who needs advice about creating a settlement in her will; and six students who hold 8 Trant Way as co-owners, and are therefore subject to a statutory trust of land.

Chapter

Cover Textbook on Land Law

13. Express and implied trusts  

Course-focused and comprehensive, the Textbook on Textbook on Land Law provides an accessible overview of one key area on the law curriculum. This chapter provides an outline of certain matters relating to trusts of land. It covers the separation of title and enjoyment; express and implied trusts; statutory trusts; and the pre-1997 methods of creating settlements of land, which are now replaced by the new trust of land under the Trusts of Land and Appointment of Trustees Act 1996. In addition, the chapter includes a more detailed account of resulting and constructive trusts.

Chapter

Cover Land Law Concentrate

10. Co-ownership  

Each Concentrate revision guide is packed with essential information, key cases, revision tips, exam Q&As, and more. Concentrates show you what to expect in a law exam, what examiners are looking for, and how to achieve extra marks. This chapter discusses the co-ownership of property. Co-owned property is where two or more people are entitled to possess and enjoy the property at the same time. Today, there are two types of co-ownership: a joint tenancy and a tenancy in common. Co-owned property is held on trust and, since the Trusts of Land and Appointment of Trustees Act 1996 (TLATA), this is generally a trust of land. Legal title can only be held as a joint tenancy, by a maximum of four people. Equitable title can be held as a joint tenancy or a tenancy in common by an unlimited number of people. A joint tenancy in equity, but not at law, can be severed to create a tenancy in common. Disputes between co-owners may be dealt with by making an application to court. Where a co-owner becomes bankrupt, the trustee in bankruptcy must make an application to court to request a sale of the co-owned property.

Chapter

Cover The Principles of Equity & Trusts

17. Liability for Breach of Trust and Fiduciary Duty  

This chapter examines the nature of the liabilities of trustees for a breach of trust and fiduciary duty. The chapter particularly focuses on the operation of particular doctrines which may be engaged when a trustee or fiduciary may have breached their duty. The extent to which the liability of a trustee or fiduciary can be excluded is considered. The extent to which the court may, in the exercise of judicial discretion, determine that it is not appropriate to hold a trustee liable is examined. The law on the limitation of liability is also examined as regards different claims relating to breach of trust and breach of fiduciary duty. This chapter also explores issues concerning liabilities between trustees, liability of trustees to creditors, and their liabilities for breach of trust before appointment and after retirement.

Chapter

Cover Land Law

5. Co-ownership  

This chapter explores the law of co-ownership. Co-ownership describes the situation where two or more people own land simultaneously, i.e. at the same time. The chapter considers questions such as how is co-owned land held at law and in equity and how do courts determine disputes involving co-owned land. The law of co-ownership represents an amalgam of common law rules and statutory provisions, most notably under the provisions of the Law of Property Act 1925 and the Trusts of Land and Appointment of Trustees Act 1996 all of which are unpacked in this chapter.

Chapter

Cover Textbook on Land Law

13. Express and implied trusts  

Course-focused and comprehensive, the Textbook on Textbook on Land Law provides an accessible overview of one key area on the law curriculum. This chapter provides an outline of the general law governing trusts of land. It defines the trust and briefly explains the distinction between express, implied, resulting and constructive trusts. It then outlines how settlements of land used to be created, before the Trusts of Land and Appointment of Trustees Act 1996, and sets out the role of statutory trusts in regulating co-ownership of land in modern English law.

Chapter

Cover The Principles of Equity & Trusts

17. Liability for Breach of Trust and Fiduciary Duty  

This chapter examines the nature of the liabilities of trustees for a breach of trust and fiduciary duty. The chapter particularly focuses on the operation of particular doctrines which may be engaged when a trustee or fiduciary may have breached their duty. The extent to which the liability of a trustee or fiduciary can be excluded is considered. The extent to which the court may, in the exercise of judicial discretion, determine that it is not appropriate to hold a trustee liable is examined. The law on the limitation of liability is also examined as regards different claims relating to breach of trust and breach of fiduciary duty. This chapter also explores issues concerning liabilities between trustees, liability of trustees to creditors, and their liabilities for breach of trust before appointment and after retirement.