Equity & Trusts - Resulting Trusts
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- Опубликовано: 28 апр 2018
- The term resulting trusts comes from the Latin term "resalire" meaning to jump back and we will see how this applies to property. In Westdeutsche Landesbank v Islington LBC [1996] Lord Browne-Wilkinson identified two examples of resulting trusts:
1) Where a settlor attempts to create a trust for an unknown beneficiary and the property results back because equity abhors a vacuum.
2) Where individuals contribute to the purchase price of property.
The best way to categorise resulting trusts was derived from Megarry VC in Re. Vandervell (No. 2) [1974].
Where a trust fails the equitable interest results back to the settlor and this covers automatic resulting trusts. A trust may fail for uncertainty of objects but also because of a condition precedent or condition subsequent.
Surplus property is also subject to a resulting trust (Re. Trusts of the Abbott Fund [1900]) although there are exceptions in the following areas:
For charitable trusts the property is applied cy-pres
Beneficiary claim under Saunders v Vautier [1841]
Property is distributed amongst members of unincorporated associations; Re. Bucks Constabulary Benevolent Fund [1978]
Another form of resulting trusts are Quistclose trusts under Barclays Bank Ltd v Quistclose Investments Ltd [1970] whereby loan money intended for a certain purpose exists as a resulting trust.
Presumed resulting trusts allow property to be transferred where there are certain relationships identified by case law. Voluntary gifts are also subject to presumed resulting trusts (Re Vinogradoff [1935]) although land is more suited towards constructive trusts (Hodgson v Marks [1971]). This category also covers contributions to the purchase price of property or to a mortgage (Lloyds Bank v Rosset [1990]) but the money must be directed towards acquisition (Winkworth v Edward Barron [1987]).
The presumption in these cases can be rebutted by examining things like the factual circumstances to discover intention (Young v Sealey [1949]). Resulting trusts may also be found to exist where attempts are made a tax avoidance (Sekhon v Alissa [1989]).
It is illegal to transfer property to avoid tax and generally the presence of illegality would have precluded a resulting trust (Gascoigne v Gascoigne [1918]) before Patel v Mirza [2016] that looks more towards public policy before coming to a decision on whether a resulting trust can be used. s. 423 Insolvency Act 1986 is also another important weapon at the disposal of the courts.
In cases of mistake a resulting trust can be instituted where the transferee knew of the mistake; El Ajou v Dollar Land Holdings [1993].
![Favourite Cases: Barclays Bank Ltd v Quistclose Investments Ltd [1968] UKHL 4](/img/1.gif)
Thank you for all your hardwork! law students everywhere owe so much to these videos
On behalf of Malaysian law students, I would like to express my sincerest gratitude for your service. God bless
Thank you, Marcus! Your videos are amazing! Please, keep them coming! :)
Excellent for clarifying resulting trusts Marcus. Having trawled through mt assigned text books and thousands of words you have provided so much clarity I cannot believe how simple it all seems now. So allow me to say thank you and pls keep them going.
Thank you so much Mr. THis really helps me understand resulting trust
Marcus bro I am really obliged...so so much thanks..keep up your great work
Thank You. It's been incredibly helpful, as usual!
Thanks Isaac, always appreciate your kind words!
I enjoyed this lecture. it gives me edge and makes me stayed ahead. Many thans Marcus!!
Thank you for putting it up :)
Thank you!!! Love the videos - life saver!!
Thank you so much. This video is very useful.
Please please do a video on Constructive Trusts Marcus - you are a godsend and I am now a dedicated disciple of yours! Exam in May 2019 and would really appreciate your brilliant way of cutting through the garbled legalise and telling it like it is.
I promise it is next in the queue but with the Easter break coming up I just don't know when I will get round to it! Will do my best to get it out in time for your exam -- scout's honour!
@@marcuscleaver Thank u so much - you have no idea how much you have helped me - I am now grappling with how I would reconcile obiter in Stack and Dowden with the single legal owner case of Lloyds and Rosset as folk are in practice taking a more modern approach but the Rosset case is still supposed to be authority on single legal owners. I do look forward to your snappy guidance.
Only if you had a video on constructive trust... and administration of trust. You explain it much easier than the books
how i wish that too! :(
Thanks for the video bro. Really really really helpful. Pls do a video on breach of trust and constructive trust.
Thanks for the class
Finology vedioes all are by Priya madam very informative and stands first good presentation easily understood. Thanks
thnx dude you're a life saver
Thank you again!!!
Marcus the GOAT
Thank you!!!
Love the Angels shirt :)
Thanks for this! Would really appreciate going through a Tracing problem question if possible
Hi! This is really helpful, thank you soooooo much!! But I really hope you could explain more on how to answer questions relationg to this whole topic in the exams :( Perhaps an outline or how to structure my answer, for both essay and problem solving questions. Thank you!
i feel like this is a sign that this topic coming for my exam in a couple weeks >.
or a sign that I can predict the future...
Yeah, but which part! That's my problem with trusts it's not that they are hard it's that the sheer amount of question I could be asked on one topic is very large.
I'm fucking balding!
Can you please do the detailed lecture on the judgement of Patel v Mirza (illegality).
excellent marcus
ABSOLUTE LIFE SAVER!!!
coursework wouldn't be the same without this video!
Thanks both ;)
what is the role played by resulting trust in the identification of property interest
Please can you explain constructive trust -co ownership....
If the first trustee leaves in its trail fraud and many infractions were brought up to the 2nd trustee would that trustee (court appt.) be responsible to make the first trustee acct. before making settlement of the trust..in other words a court appointed trustee must bring to the courts attention that fraud has been committed?
Hey Marcus thanks for another great video. Sexist yes in Bennet but she got her money back :D but what is the flip side of this?
If you’ve got time please can you help me with constructive trusts🙏🏻 guaranteed question in the exam 😀
Have you heard of a Strawman?