905175
Description
Mind Map by ladyamaya86, updated more than 1 year ago
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Created by ladyamaya86
over 10 years ago
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What is a trust?
- Settlor > Trustee > Beneficiary
- Feudal context
- Landlords/tenants and the
- Subinfeudation - the granting of a
portion of an estate by a feudal tenant to
a subtenant, held from the tenant on
terms similar to those of the grant to the
tenant.
- Subinfeudation - the granting of a
portion of an estate by a feudal tenant to
a subtenant, held from the tenant on
terms similar to those of the grant to the
tenant.
- A trust is a way of dividing property
- Way to avoid feudal
incidents/duties on
death of a party
- Conveyance to a 3rd Party (feoffee to
uses) on basis that property to be held for
benefit of a beneficiary (cestui que use)
- Way to avoid feudal
incidents/duties on
death of a party
- Landlords/tenants and the
- The use
- Reasons for the use
- Knights going on crusade - transferred
property for the use of another
- Franciscans - vow of poverty
- way to keep their vows and still derive benefit from
property - though technically held by another
- way to keep their vows and still derive benefit from
property - though technically held by another
- minimise the threat of fraud
- Knights going on crusade - transferred
property for the use of another
- Role of conscience - not
enforceable by common law so
relied on equity
- Statute of Uses 1535
- because of loss of revenue it directed legal estate
to be vested in the beneficiary
- later known as the trust
- later known as the 'trust'
- later known as the 'trust'
- later known as the trust
- because of loss of revenue it directed legal estate
to be vested in the beneficiary
- Reasons for the use
- Main features of a trust
- interests split between two persons
- interests split between two persons
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