Effective Transfer Of Title

Question 1

Milroy v Lords

Answer 1

Rule: “everything necessary” must be done to have effective transfer of legal title from the settlor to trustee
2 Modes of effective transfer:
1.Transfer of Legal Title to Trustee =
2.Declare self (settlor) trustee = settlor becomes the trustee. Transfers property to the trustee and declares that he himself holds the trust

once done a fully constituted trust is made because the trustee is established

Question 2

S.52(1) LPA

Answer 2

Land
How to transfer land: transfer to legal title under s.52(1) LPA

By s 52 of the Law of Property Act 1925, all conveyances of land, or of interests in land, are void unless made by deed. With some exceptions for short leases, the transfer of the legal title to land must also be perfected by the registration of the transferee as the ‘registered proprietor’ at the Land Registry.27 An attempted oral transfer of land, a transfer by mere writing, or even granting the trustees physical possession of the land will thus be insufficient to create a constituted trust.

Question 3

S.53 (1)(c LPA

Answer 3

dispositon, transfer equitable title in existing trust under s.53(1)(c)

Question 4

Re Fry

Answer 4

Transfer of legal title to trustee, reinforces Milroy rule “everything necessary must=be done”
Very old case!
Stricter rule that Milroy
Rule: everything necessary must be done, needed permission and authorization
Facts
WW2 period) at the time the rules were must stricter regarding transfer of legal title. Needed PERMISSION and AUTHORIZATION to do so. Fry did such and everything else required and was waiting for permission from the treasurey. Fry died
Issue :was there effective of shares
Outcome: everything necessary had not been done. No transfer of legal title of shares ands it remained with the estate
Irregularless of the fact that he did everything he could in his power

Question 5

Re Rose

Answer 5

Rule = Settlor has done everything in his power
Re Rose
Transfer of legal title of shares made and 18 months later Mr rose name was logged in the company’s books
In that 18 month period Mr rose died
Issue: were the shares transferred in his lifetime intervivos or after he died - this mattered because of the various taxes and duties that would be payable
Outcome: yes intervivos yes effective transfer, because Mr rose had done everything in his power when alive and was simply waiting on the company to do their part
Effect: relaxation on the rule in re fry

Question 6

Re Rose (Later Case)

Answer 6

(This case is sighted more frequently as it is a COA case)
Transfers made in march and April and the shares were registered in the companies books in June 3 moths later
Mr rose died
Issue:was the effective transfer in march and April or June - if in march and April no taxes to pay otherwise yes taxes
Outcome: yes effective transfer in march and April
Why:Mr rose had done everything in his power before his death