Lecture 8 - equitable ownership of land

Question 1

what are the parties to a trust

Answer 1

settlor - transfers the property or declares himself as a trustee
trustee - has all the powers of an absolute owner but must act in the best interests of the beneficiary
beneficiary - has equitable ownership

Question 2

what is the difference between implied and expressed trusts

Answer 2

express - unenforceable unless evidenced in writing s53 LPA 1925
implied -s53 lpa 1925 does not apply

Question 3

what are resulting trusts

Answer 3

resulting trusts are trusts which arise in the absence of an express intention of the parties