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(p. 120) 5. The constitution requirement for a valid trust 

(p. 120) 5. The constitution requirement for a valid trust
(p. 120) 5. The constitution requirement for a valid trust

Sarah Wilson

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date: 25 February 2020

Course-focused and comprehensive, the Textbook on series provide an accessible overview of the key areas on the law curriculum. This chapter discusses the constitution requirement for a valid trust. The first part deals with the transfer of legal title to a trustee. It covers the rationale for the ‘last act’ and its application, illustrated in Re Rose; the application of the ‘last act’ doctrine and the difficulties it has exposed; the ‘rule in Re Rose’ and the search for guiding principles; the ‘last act’ doctrine and more recent developments; an alternative approach to equity’s recognition of new owners of property; concerns about new directions and the value of traditional approaches; judicial approaches post-Pennington v Waine; and a ‘blueprint’ for future development. The second part of the chapter discusses the case when the settlor declares himself to be trustee of the property. It covers what the courts are looking for; satisfying Milroy v Lord; applying Richards v Delbridge; and self-declarations of trust in the commercial context.

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