Types Of Trust And Ownership Of Land Essay

Types Of Trust And Ownership Of Land Essay

Length: 1053 words (3 double-spaced pages)

Rating: Better Essays

Open Document

Essay Preview

The statement suggests that at the core of the decision in Stack the assumption of a “common intention” trust is the default option for cohabitants holding a property in a joint ownership. Firstly, this can be said that it is due to the nature of joint ownership, which presupposes unity of possession, title and interest. Moreover, where a property is jointly owned a trust can be classified as a constructive trust for the equitable benefit of joint parties as well as preserving their joint legal ownership.
With reference to the law relating to co-ownership of land, it is important to understand how the law approach the distinct types of trusts. There are three types of trust that can arise in relation to ownership of the land. An express trust, which has to be in writing and satisfy the conditions set in section 53(1)(b) of the Property Law Act 1925. A resulting trust is usually implied by law when land is acquired by one person but was financially subsidised by another person. Resulting trusts are said to be arise when some contribution to the actual price or deposit materialises on the course of purchase or post acquisition. A construction trust is said to be an equitable remedy enforced by the courts to benefit a party who may be wrongly deprived of their rights by a person obtaining or holding property in “unconscionable manner”. Such trust is requires strong evidence to prove that an entitlement ought to be granted.
In the Stack judgment, Lord Walker and Lady Hale concluded that beneficial ownership reflects legal ownership, but noted that the presumption of resulting trust is conflicting and has little or no role when determining the beneficial interest of cohabitees in the said case.
The inference in Stack is that a resulti...

... middle of paper ...

...taken a few considerations when deciding whether a resulting trust can be found in jointly owned property subsequently Stack. Considering its facts, the courts noted that the parties have kept their financial affairs totally separated and that Ms D had been a sole owner of a previous property which was later sold to buy the property jointly owned with Mr Stack. It was important to take into account the purpose as to how the property was acquired and the relationship between the parties. Further, it suffices to say that Ms Dowden successfully argued that there was a change of the common intention over a period of time and that it was crucial aspect of this case which determining to its outcome. In the judgement, Judge Hale emphasised the importance of looking at the true intentions of the parties and not to what the court has taken to be a fair approach in the matter.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Co-Ownership of Land: The Aqcuisition of Rights and the Quantification of Shares

- Current English land law on the co-ownership of interests of land has developed quite a contentious history pertaining to the relationship between the acquisition of rights and the quantification of the shares. In terms of co-ownership, there are huge variances and legal consequences when legal ownership is in one person’s name compared to two. These differences can be seen in various landmark cases which have created precedent and developed refined principles such as Lloyds Bank plc v Rosset and the Stack v Dowden....   [tags: land law, landmark cases, co-ownership law]

Better Essays
1636 words (4.7 pages)

Essay on Analysis of Community Land Trusts

- Community Land Trusts A. Defining a Community Land Trust A Community Land Trust (CLT) is a shared equity affordable homeownership model that conceptually exists between the homeownership and rental tenure models. Under the CLT model, a community based non-profit corporation purchases land and subsequently leases the improvements on the land, such as residential homes, to low income households. The CLT is set up in such a way that the low-income household will only achieve a limited equity return on its investment....   [tags: Home Ownership, Rental]

Better Essays
2278 words (6.5 pages)

Essay on The Cmapion Land Deal

- The Cmapion Land Deal The acquisition of the so-called “former Champion lands” resulted from one of the most complicated land deals in Vermont history. The Champion Lands in Vermont were part of a larger deal involving almost 300,000 arces in New York, New Hampshire as well as Vermont. The specifics of how the property was transferred to the current owners are relevant because in some cases the provisions of the transfer mandate certain types of management or constrain management in other ways....   [tags: Vermont History Historical Essays]

Better Essays
745 words (2.1 pages)

Essay about Wildlife Conservation and Biology

- There are 6.5 million species of land mammals. Wildlife biologists get the privilege of studying and spending time with these animals as their everyday life. I should be a wildlife biologist so I can study land mammals. Wildlife biology is a field of biology in which land animals are studied. It deals with all animals with backbones and studies individual species of wildlife, their habitats, and surrounding ecosystems (Fitzgerald). It also studies how animals may interact with their ecosystem....   [tags: Land Mammals, Large Animals, Animals, Biology]

Better Essays
1579 words (4.5 pages)

South Africa Land Reform Essay

- ... In the Philippines, indigenous people are subjected to major financial hindrances and complications to obtaining their lands under the Indigenous Peoples’ Rights Act, as the expenses of carrying out land surveys have to be taken care of by the communities. Some communities are even fractionally repossessing their lands, to reduce the survey expenses to what they can have the funds for. And in the case of south Africa, Land reform has fallen far short of expectations and objectives in every respect: in the quantity of land reallocated, in the mitigation of poverty and unemployment, in the reformation of the agrarian budget to generate opportunities for previously underprivileged individua...   [tags: modification of land ownerwhip]

Better Essays
1353 words (3.9 pages)

Essay about Ownership of Self and Property

- Ownership has long affected our sense of self and worth. It has changed with the times but still affects us the same way as before. The famous philosopher, Plato, thought that “owning objects is detrimental to a person's character”. By examining the different types of ownership and evidence from historical to contemporary society, ownership correlates with one’s sense of self by either improving or diminishing it. . It is impossible for any living organism to survive without owning anything. From insects to mankind, owning some sort of property, whether tangible or intangible, is our way of surviving....   [tags: financial system, economy, self-ownership]

Better Essays
1233 words (3.5 pages)

Equity and Trust in UK Essay

- Consider the validity and effect of the following two clauses in the will of Dan: a) ‘I leave my cottage, at 42 Drumsesk Road, to my friend Gurpreet in full confidence that he will dispose of it in accordance with the instructions given to him during my lifetime’. Just before Dan signed the will, he told Gurpreet that he had left a ‘sum of money’ in the will to Gurpreet which he wanted him to hold for the benefit of Jenny. Gurpreet witnessed the will. Jenny died two days before Dan leaving two children....   [tags: fully secret trust, half-secret trust]

Better Essays
1677 words (4.8 pages)

Essay about Buying Agricultural Land in India

- ... You have to be an Indian citizen to buy an agricultural land. You should be a farmer or own a farm land already Not every Indian is eligible to buy such type of land. There are certain conditions that you have to fulfill before buying a land. Either you have to prove that you are a farmer or your father or grandfather has been a farmer or you already own an agricultural land somewhere in the country. For an investor whose lineage has not been of farmers the most easy route is to buy a cheap agricultural land probably a non-cultivable agricultural land as a proof and then be eligible to buy a good agricultural land for cultivation Other method is to buy a land in name of actual farmer and...   [tags: wet land, dry land]

Better Essays
1708 words (4.9 pages)

The Importance of Trust Essays

- What is trust. According to Merriam-Webster’s Online Dictionary, trust is an assumed reliance or the character, ability, and strength of someone or something. My definition of trust is someone who can do something without being checked up on or being able to depend on someone. The focus of this essay will be trust. I will go in depth on trust at home, school and trust in general. Follow me on this journey as I explain why trust is needed and how it betters your character. Let’s begin… Trust is needed everywhere you go....   [tags: Trust]

Free Essays
416 words (1.2 pages)

The Types of Business Ownership Essay

- The Types of Business Ownership This report is about the advantages and disadvantages of different types of business ownerships. Introduction I am going to write about the advantages and disadvantages of different business ownerships including: * Sole Trader * Partnership * Franchise I will include the definitions of some of the business ownerships. Main Body SOLE TRADER Sole trader, as the name suggests, is where an individual is the sole owner of a business....   [tags: Papers]

Better Essays
833 words (2.4 pages)