Types Of Trust And Ownership Of Land Essay

Types Of Trust And Ownership Of Land Essay

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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.

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