Trust Property Law Term Paper Example | Topics and Well Written Essays - 2500 words

Trust Property Law - Term Paper Example Law of equity and trust confers the provision regarding the trust. It laid down several duties and responsibilities for the trustees. Moreover, there are provisions like co-ownership, proprietary estoppels, fiduciary relationship etc. Apart from this, one of the prominent features of trust is, it can be raised from either trust deed/covenant as said before or by the Will, i.e. a testamentary trust is a trust created by a Will or a codicil to a Will. A testament is a Will. of or includes land and the trustees of such a trust are trustees of land. Any description of trust includes an implied resulting or constructive trust and a bare trust. (1) An implied trust is based on the presumed intention of the parties at the time the property is acquired by the resulting trustee. That is the point at which the contributors' beneficial interests crystallize. The beneficial shares are unaffected by subsequent conduct. This scope of implied trust has been rightly explained in Cowcher v Cowcher (2). Moreover, a trust can be defined as a "land" which includes land of any tenure and property divided either vertically or horizontal (as in the case of a block of flats) and easements but does not include an undivided share in the land. (3)Now we shall scrutinize how far the scope of trust of land and its various ingredients will help to analyze the issues brought up in the given problem.Before deciding the rights of Ayesha and Ben in the property, the meaning and significance of the concept co-ownership and beneficial joint tenants are to be explained. Beneficial joint tenantsCo-ownership (4) is where a person is entitled to hold the land together with others who have simultaneous interests at the same time they are said to hold concurrently. Where ever there is co-ownership there will be a trust of land. There are 2 types of co-ownership 1. Trust of land and Appointment of trustees Act 1996, sub-section (1) (a) 2. Cowcher v Cowcher [1972] 1 WLR 425 (CA) 3. Law of property 1925 Act, Section 205(1) (ix)4. Law of Property Act 1925, Sec 1Â