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Lecture notes

Implied Trusts
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This is part of a bundle for Equity and Trusts Term 2. Includes: - Maxims - Implied Trusts - Constructive Trusts - Illegality - Presumption of Advancement

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  • July 12, 2021
  • 4
  • 2020/2021
  • Lecture notes
  • Jeanette
  • All classes

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Objectives

• Introduce the resulting trust

• Explore automatic resulting trust

• Consider the academic discussion in this area

• Questions



Quickfire Quiz

Resulting trust is a type of implied trust

Resalire – To jump back (if there is a beenfical interest that hasn’t been entirely disposed of it goes
back to settlor

Written formaltites do not apply to the creation of resulting trusts, so 53(2) is significant of LPA 1925




Implied Trusts

There are two types of trusts:

Express trusts – intentionally declared by the settlor

Implied trusts – not declared (imposed by law): They are out of the scope of s53(2)

- Resulting trusts

- Constructive trust

S 53 (2) LPA



Definition

Jill Martin: “A resulting trust exists where property has been conveyed to another, but the beneficial
interest returns or ‘results’ to the transferor”

Vandervell (No 2) [1974] Ch 269




Categories



Vandervell (No 2) [1974] Ch 269, Megarry V-C at 288 – 2 types of resulting trust:

Automatic resulting trusts*—transfer of property leaves some or all of the beneficial interest
undisposed of

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