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Chapter

Cover Equity & Trusts

4. Creation of Express 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 the formality requirements that must be met in the creation of express trusts. As an example, a declaration of an express trust over land is presented here, which formally requires signed writing. Trusts created by a will also need to satisfy formality requirements and must be constituted by title to the trust property being vested in the trustee. A trust can be constituted using two mutually exclusive methods: by declaration of oneself as a trustee or by transfer of property to trustees. Neither half-secret nor fully secret trusts will comply with statutory formality requirements but, subject to the fulfilment of certain conditions, they will be regarded as valid to ensure that the statutory formalities are not used as an instrument of fraud.

Chapter

Cover Essential Cases: Equity & Trusts

Federal Republic of Brazil v Durant International Corporation [2015] UKPC 35, Privy Council  

Essential Cases: Equity & Trusts provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Federal Republic of Brazil v Durant International Corporation [2015] UKPC 35, Privy Council. The document also includes supporting commentary from author Derek Whayman.

Chapter

Cover Essential Cases: Equity & Trusts

Federal Republic of Brazil v Durant International Corporation [2015] UKPC 35, Privy Council  

Essential Cases: Equity & Trusts provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Federal Republic of Brazil v Durant International Corporation [2015] UKPC 35, Privy Council. The document also includes supporting commentary from author Derek Whayman.

Chapter

Cover Essential Cases: Equity & Trusts

Williams v Central Bank of Nigeria [2014] UKSC 10, Supreme Court  

Essential Cases: Equity & Trusts provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Williams v Central Bank of Nigeria [2014] UKSC 10, Supreme Court. The document also includes supporting commentary from author Derek Whayman.

Chapter

Cover Essential Cases: Equity & Trusts

Bank of Credit and Commerce International (Overseas) Ltd v Akindele [2001] Ch 437, Court of Appeal  

Essential Cases: Equity & Trusts provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Bank of Credit and Commerce International (Overseas) Ltd v Akindele [2001] Ch 437, Court of Appeal. The document also includes supporting commentary from author Derek Whayman.

Chapter

Cover Essential Cases: Equity & Trusts

Armitage v Nurse [1998] Ch 241, Court of Appeal  

Essential Cases: Equity & Trusts provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Armitage v Nurse [1998] Ch 241, Court of Appeal. The document also includes supporting commentary from author Derek Whayman.

Chapter

Cover Essential Cases: Equity & Trusts

Independent Trustee Services Ltd v GP Noble Trustees Ltd [2012] EWCA Civ 195, Court of Appeal  

Essential Cases: Equity & Trusts provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Independent Trustee Services Ltd v GP Noble Trustees Ltd [2012] EWCA Civ 195, Court of Appeal. The document also includes supporting commentary from author Derek Whayman.

Chapter

Cover Essential Cases: Equity & Trusts

Williams v Central Bank of Nigeria [2014] UKSC 10, Supreme Court  

Essential Cases: Equity & Trusts provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Williams v Central Bank of Nigeria [2014] UKSC 10, Supreme Court. The document also includes supporting commentary from author Derek Whayman.

Chapter

Cover Essential Cases: Equity & Trusts

Bank of Credit and Commerce International (Overseas) Ltd v Akindele [2001] Ch 437, Court of Appeal  

Essential Cases: Equity & Trusts provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Bank of Credit and Commerce International (Overseas) Ltd v Akindele [2001] Ch 437, Court of Appeal. The document also includes supporting commentary from author Derek Whayman.

Chapter

Cover Essential Cases: Equity & Trusts

Armitage v Nurse [1998] Ch 241, Court of Appeal  

Essential Cases: Equity & Trusts provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Armitage v Nurse [1998] Ch 241, Court of Appeal. The document also includes supporting commentary from author Derek Whayman.

Chapter

Cover Essential Cases: Equity & Trusts

Independent Trustee Services Ltd v GP Noble Trustees Ltd [2012] EWCA Civ 195, Court of Appeal  

Essential Cases: Equity & Trusts provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Independent Trustee Services Ltd v GP Noble Trustees Ltd [2012] EWCA Civ 195, Court of Appeal. The document also includes supporting commentary from author Derek Whayman.

Chapter

Cover The Principles of Equity & Trusts

5. Formalities  

This chapter examines the processes for creating an express trust, which involves two elements. The first involves possible formality requirements relating to the creation of the trust itself, particularly involving trusts of land and testamentary trusts. It also considers how a trust may be valid despite failure to satisfy these requirements, notably where a statute is being used as an instrument of fraud or where a secret trust is recognized. The second element involves the formality requirements which need to be satisfied to ensure that title to property is vested in the trustees, so that the trust is constituted. Constitution of the trust is considered where a settlor declares themself as a trustee and also where another party is declared as a trustee. The chapter also examines when Equity may intervene where a trust has not been properly constituted or where a gift has not been validly transferred to a donee.

Chapter

Cover The Law of Trusts

3. Trusts and powers  

Titles in the Core Text series take the reader straight to the heart of the subject, providing focused, concise, and reliable guides for students at all levels. This chapter explores the features of express trusts, with a focus on powers. The discussions cover fixed trusts, discretionary trusts, and powers of appointment; the variety of interests under express trusts; the kinds of powers and duties under a trust; faulty exercises of powers; judicial control of the exercise of discretions; and limitations on the settlor’s ‘freedom of trust’.

Chapter

Cover Equity & Trusts Law Directions

3. Capacity and formality requirements  

Without assuming prior legal knowledge, books in the Directions series introduce and guide readers through key points of law and legal debate. Questions, diagrams and exercises help readers to engage fully with each subject and check their understanding as they progress. Expressly created trusts are a special form of gift that do not require any formality. However, formality is extremely important with regard to the subsequent transfer of beneficial interests after the creation of a trust and with regard to trusts made by will (so-called testamentary trusts). Not everybody has the capacity to create a binding trust; where there is no capacity it is mainly due to poor mental health or minority (infancy). This chapter deals with capacity and formality requirements in relation to the creation of trusts and considers inter vivos transactions, the relevant provisions of the Law of Property Act 1925, lack of formality as a defence to disguise a fraud and testamentary trusts. It also examines whether a would-be settlor is legally capable of setting up a trust and discusses the equitable interest under a trust in compliance with the proper formalities, trusts for which there are no formality requirements and valid ‘mutual wills’ and ‘secret trusts’.