Resulting Trusts Flashcards
Re Vanderwalls Trust 1974
Formalities are not necessary
Comes into existence when gap in beneficial ownership
Category (a)
Where A makes a voluntary payment to B or transfer from A to B
Category (b)
Where the trust does not exhaust the whole beneficial interest
Case & Lord creating the categories ?
West deutsche Bank v Islington IBC 1996
Lord Browne Wilkinson
Smith v Abbott 1900
Resulting trust of surplus (category B)
2 intended beneficiaries had died, money went back to donors
Re Anderson Trust 1905
Category (b)
Purpose as motive of trust, funds went back to donee
Relevance of intention
Re Sanderson 1857
Catagory b
Intention important
For purpose so surplus back to donee
Re Gillingham 1958
Cat B - RT of surplus went back to donees but some untraceable Donations from street collections > unfeasible
Re West Sussed Constabulary Funds 1971
Identifiable donations went back to donors but street collections treated as outright gifts
Intention rebuts …
Presumption of RT
Re Vinogradoff
Cat A - presumed RT > transferred bond to joint name of her & 4 year old, received dividends on this, dies = resulting trust to granddaughter
Hodgson v Marks 1971
Cat A - RT of lands arose due to lack of donative intention, legal title transferred for protection but no real intention > RT in her land
S.60(3) LPA 25
Pettit v Pettit 1970
Importance of presumption diminished in modern times >
Rebutted by intention
He didn’t contribute at time of purchase
Presumption CAT A
there is a presumption that A did not intend to make a gift to B
where voluntary payment or payment towards purchase price
Voluntary payment
Cat A - direct contribution needed at purchase
Dyer v dryer 1988
JUDGE EYRE
Trust of a legal estate results to the man who adavances the purchase money
Cowcher v cowcher 1972
Mortgage payments might suffice but must assume liability of mortgage at time of purchase
Curley v Parks 2004
RT only recognises initial contribution
Stack v Dowden 2007
Presumption that legal owner is beneficial owner
Must prove his / her beneficial interest
Re Obsoba 1979
Money to wife & daughter for education and maintenance, once completed no resulting trust > intention of absolute gift
Re printers and transfers society 1899
Where should surplus go in society cases > back to member of society RT
