Formalities

Question 1

Milroy v Lord

Answer 1

Three methods of giving benefit of property to another
Outright gift (transfer of legal title)
Transfer on trust
Self-declaration of trust

Question 2

Paul v Constance

Answer 2

Inter vivos trust of property other than land can be created without formalities of any kind

Question 3

Hodgson v Marks

Answer 3

Implied trusts are immune from formalities - implied constructive trust of the home

Question 4

Timpson’s Executors v Yerbury

Answer 4

Disposition:

1) Assignment of pre-existing equitable interest to third party
2) Sale of equitable interest
3) Direction to trustees to hold property for new beneficiary
4) Declaration of sub-trust

Question 5

Grey v IRC

Answer 5

Directing trustee to hold equitable interest on trust for a third party - must comply with s53(1)(c) formalities

Question 6

Vandervell v IRC

Answer 6

Where trustee holds property on bare trust for beneficiary, any transfer of legal title instructed by the beneficiary will take the beneficial interest with it and will not require separate written disposition of the subsisting equitable interest (no trust at end of transaction)

Question 7

Neville v Wilson

Answer 7

s53(1)(c) probably not necessary for contract for sale of equitable interest for value - enforceable through specific performance/constructive trust

Question 8

Nelson v Greening & Sykes

Answer 8

Declaration of sub-trust not subject to s53(1)(c) formalities - declaration of new trust (as long as trustee has no ongoing duties and entire equitable interest is transferred)