Land Law: Equity and Trusts

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What happened after the Norman Conquest?
Common law developed, court of Chancery developed (fair) who recognised the use of trust devices
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What is equity?
Equality, looks at what should have been done (fair)
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What is equities biggest contribution to land law?
Enforcement and recognition of the trust device, all co-ownerships take place through the trust device
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When will there be a trust device?
Where there is a co-ownership
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What is a trust device?
Can split up ownership of a property for those who own it in law, trustees hold property on trust in good faith/behalf of beneficiaries, trust is relevant where the land title has a capital value
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What types of trusts are there?
Implied, Express
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What are express trusts?
Where the land is co-owned, it must be signed in writing (S53(1)(B) LPA), is important between co-owners as they can split up the %
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Who gets the money in a co-ownership?
The people who hold the equitable title under the trust which are written in the original trust conveyancing document, if you have an express declaration of trusts, it is conclusive as to who owns the property in equity
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Case example on express trusts/co-ownership?
Goodman v Galante 1986
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What does Goodman v Galante 1986 concern?
The extent of the contributions are irrelevant, declaration of trusts is conclusive
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What is a resulting trust?
Occurs when property is not properly disposed of, equity presumes you get what you put in
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Case example on resulting trusts?
Dyer v Dyer 1789
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What is a constructive trust?
If two people live together and there is a common intention to share the property beneficially, there can be a share of award
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Case example of a constructive trust?
Lloyds Bank v Rossett 1988
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Card 2

Front

What is equity?

Back

Equality, looks at what should have been done (fair)

Card 3

Front

What is equities biggest contribution to land law?

Back

Preview of the front of card 3

Card 4

Front

When will there be a trust device?

Back

Preview of the front of card 4

Card 5

Front

What is a trust device?

Back

Preview of the front of card 5
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