Non-charitable purpose trusts Flashcards
What are Non-Charitable Purpose Trusts?
Trusts that apply only when a trust is created in a will.
What are the limited exceptions classified in Re Endacott?
- Trusts for the maintenance of particular animals
- Trusts for the erection and maintenance of graves and monuments
- Trusts for the saying of private masses
Can exceptions to Endacott be extended by analogy?
No, exceptions to Endacott will not be extended by analogy.
What are Non-Charitable Purpose Trusts often referred to as?
Trusts of imperfect obligation.
What is the Pettengill order?
An order that requires the trustee to give an undertaking to comply with the trust.
What does the rule against inalienability state?
Assets cannot be tied up on trust for longer than the common law perpetuity period of a life in being plus 21 years (or just 21 years).
Can animal lives be used as lives in being under the rule against inalienability?
No, animal lives cannot be used as lives in being.