Monday, February 10, 2020

Law of Trusts Coursework Example | Topics and Well Written Essays - 750 words

Law of Trusts - Coursework Example In this case the testator in transferring property to his wife expressed a wish that she did was as right for their children with regards to disposing of the property.4 The only difference between Adam’s transfer and the transfer of property in Re Adams is that Adam’s words were more specific and contains more certainty relative to his intentions to create a trust. However, since, Alfred’s request came after he had already transferred the property to Barbara, Alfred did not create a trust as a declaration of trust can only occur upon or prior to the transfer of the property in question. In any event, a request is insufficient to constitute certainty of intention.5 Once Alfred transferred the property to Barbara he no longer had any authority over the property.6 As for Barbara, it is entirely doubtful that she intended to create a trust as she merely agreed with Alfred and can therefore be said to be acting on a moral obligation which is not sufficient enough to e stablish intention to create a trust.7 Certainty of objects refers to the certainty with which the beneficiary of a trust can be identified.8 At the end of the day, it must be possible to state with some degree of certainty that a particular beneficiary is the intended object of the trust.9 In a fixed trust such as the one contemplated by Alfred, the identity of the beneficiary is expressed so that the trustee does not have a discretion to determine who is and should be included in the category of entitled beneficiaries. The important thing in both discretionary and fixed trusts is that there is someone that can be identified with a degree of reasonable certainty that is entitled to the benefits of the trusts.10 There is no question that certainty of object is established in this particular case as it is clear that Chloe is the intended beneficiary. With respect to certainty of subject, the trust property must be identifiable. At the end of the day, the trustee must be put in a posi tion to know what property transferred to him by the donor is applicable to the trust.11 There must be certainty as to what portion of the property must be shared or distributed among the identifiable beneficiaries.12 There is no uncertainty with respect to the division of the property in question. The intended disposition is for Chloe to be able to live in the house as long as she needs to. However, there are two main problems with certainty of subject. First, it is not binding on Barbara and therefore not binding on David. The three certainties are fluid and if certainty of intention is not found to exist, certainty of object will therefore be inconsequential. Secondly, the intended trust deals with the disposition of an equitable interest in land and thus there are certain formal requirements that must be observed in order for the trust to be valid and enforceable. Pursuant to Section 53(1)(b) of the Law of Property Act 1925, where a trust is declared in â€Å"land or interest t herein†

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