Trusts

Question 1

Tangible items in a trust

Answer 1

Must be segregated to be sufficient subject matter

Question 2

Intangible items

Answer 2

Do not need to be segregated e.g shares/money

However if different shares may be different values and therefore not identifiable

Question 3

Trusts in land need what?

Answer 3

X3 certainties
S53 LPA In writing
Signed by the settlor

Question 4

Do trusts in land need to be a deed

Answer 4

No

Question 5

Is residue sufficiently certain?
Is bulk sufficiently certain?
Is most of what’s left sufficiently certain?

Answer 5

Yes
No
No

Question 6

Can an oral declaration of express trust be valid

Answer 6

Yes but a trust for land needs to be in writing to be enforceable.
It will remain valid

Question 7

What is it called when a beneficial interest is being transferred on its own without the legal interest being transferred

Answer 7

Disposition of a subsisting equitable interest and is bound by formalities under s53(1)(c)

Question 8

Disposition of a subsisting equitable interest and is bound by formalities under s53(1)(c) what are the requirements

Answer 8

In writing and signed by the person disposing of the interest or by an agent authorised to do so

Question 9

Donatio Mortis Causa

Answer 9

Gift mad on contemplation of death
Conditional on death
Actual/constructive delivery