FINISH Common Intention Constructive Trust (CICT) Flashcards
Where does CICT arise?
In divorce of a marriage of the dissolution of a civil partnership
What happens in the situation of cohabitants?
The legal title stays as it was
Can proportional ownership exist at law?
No, only in equity
What is proportional ownership called in equity?
Tenancy in common
What can be done to avoid splitting the money of the house 50/50 in a divorce?
Create a trust and sign it in writing
What is it called when people don’t create a trust to avoid hard feelings or dont want to think of the negative outcomes?
Optimism bias
Which act says that a trust must be created in signed writing?
Law of property act 1925, s53(1)(b)
What are some positives of having formalities to follow when creating a CICT?
. Evidence of trust avoids arguments
. Lessens hasty decisions
. Signals what is intended to happen down the line
What are some negatives of having formalities to follow when creating a CICT?
. Failure to comply has bad outcomes
. Can have SLO or two JLO
What is an slo?
Single legal owner
What is a JLO?
Joint legal owner
If one person pays 1/4 of the upfront price, and the other 3/4, then they divorce- what portion will they each get out of it?
50/50
Which case from a previous topic did equity relieve the need for formalities in?
Re Rose
What is a type one constructive trust?
There’s a CICT and two ex-cohabitees treated as trustees and split the equitable title, but dont need formalities to get one of these
Do you need formalities for a type 1 constructive trust?
No
Do statutes make exceptions from formalities for constructive trusts?
Yes
Which statutes have made exceptions for constructive trusts?
. Law of property act 1925
. Statute of frauds 1677
Prior to the matrimonial causes act 1857, what was the way to get a divorce?
Needed an act of parliament
What were the conditions for divorce that the matrimonial causes act 1857 introduced?
. Allowed if a woman was adulterous
. Allowed if a man was adulterous and it was aggravated
Which act allowed women to own property and conclude contracts for the first time?
Married womens property act 1882
Which section of the 1882 married womens property act was soused to day women could own property?
S.17