Creation and requirements of express trusts Flashcards
1
Q
What is an express trust?
A
One which has intentionally been created
2
Q
How can a settlor create an express trust?
A
- self declaration
- transfering property on trust
3
Q
Does a full legal owner ever have an equitable interest?
A
No
4
Q
What are the four requirements for express trusts?
A
- three certainties
- beneficiary principle
- formalities
- perpetuity rules
