100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Disposition of Equitable Interests CA$8.10   Add to cart
Quickly navigate to
Preview
  2.  
  3. Durham University (DUT)
  4.  
  5. Law LLB
  6.  
  7. Trusts and Equity

Study guide

Disposition of Equitable Interests
 60 views  0 purchase
  • Course
  • Trusts and Equity
  • Institution
  • Durham University (DUT)

Revision notes for disposition of equity interests for Trusts and Equity. These notes got me a high 2:1 in Trusts and Equity. Clearly maps out everything you need to know to answer disposition of equitable interests exam questions. Includes assigning interests to third parties directly, directing t...

[Show more]

Preview 1 out of 3  pages

Document information

  • September 16, 2019
  • 3
  • 2017/2018
  • Study guide

Subjects

  • trusts and equity
  • trusts
  • equity
  • disposition
  • disposition of equitable interests

Written for

  • Durham University (DUT)
  • Law LLB
  • Trusts and Equity
All documents for this subject (6)

Seller

avatar-seller
phoebecottam5

Reviews received

Content preview

DISPOSITION OF EQUITABLE INTERESTS

Dispositions must comply with s53(1)(c) Law of Property Act 1925

(c) a disposition of an equitable interest or trust subsisting at the time of the disposition, must be in
writing signed by the person disposing of the same, or by his agent thereunto lawfully authorised in
writing or by will.

Stamp duty charged on transfer of beneficial interest, people try to avoid this by avoiding their
action being classed as a disposition.
4 ways you can dispose of interest summed up by Romer LJ in Timpson’s executors

1) Assign interest to third party directly
2) Direct trustees to hold property on trust for another
3) Contract for valuable consideration to reassign equitable interest
4) Declare themselves a trustee for another (subtrust)

Not exhaustive list but most attempts to avoid stamp duty come under
one of these.

Assign interest to third party directly

Always a disposition, void if not in writing

Direct trustees to hold property on trust for another

Grey v IRC – Grey orally told trustees to hold trust property for
grandchildren by adding trust shares to pre-existing trusts. This
part was an attempted disposition which would have failed if
left unwritten. Trustees made 6 declarations of trust stating
allocation of trusts. This meant disposition wasn’t void but was
subject to stamp duty.




Contract for valuable consideration to reassign equitable interest

Oughtred v IRC – shares held for Mrs Oughtred for life and for her son Peter absolutely. Oral
agreements that Mrs Oughtred would transfer other shares in return for P’s revisionary interest in
the shares. This could possibly have caused P to be holding the reversionary interest in shares on
constructive trust for O. Documents of transfer were created later. Not necessary to find whether
the equitable interest was transferred when documents were created or when constructive trust
created as this was under Stamp Act 1891. But Denning said oral agreement was not sufficient to
transfer the interest, Radcliffe (dissenting) thought it was sufficient, though both obiter.

Neville - shareholders in company called JEN claimed to have oral agreement with JEN that JEN’s
shares in another company would be distributed to shareholders of JEN. Found oral agreements

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller phoebecottam5. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$8.10. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

72042 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
CA$8.10
  • (0)
  Add to cart