Relevant Basic Definitions Trust is defined as an equitable obligation‚ binding a trustee to deal with property over which he/she has control for the benefits of beneficiaries. A trustee could be a beneficiary as long as he/she is not the only one. Trustee is the person who is the legal owner and controller of the trust property. The trustee‚ who is usually appointed in the trust deed‚ manages the trust on behalf of the beneficiaries and is held accountable by being subject to fiduciary duties.
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Basic Rules of Trusts: Property‚ Obligations and trusts 1) Equitable title exists whenever equity will require the legal owner of property to hold the property for the benefit of some other person or group of persons (which group may include the legal owner himself.) 2) Cestuis que trust=beneficiaries 3) Settlor and trustee can be the same person. 4) Settlor and beneficiary can be the same person. (Settlor can convey property to a trustee on trust for himself.) 5) Express trust as the creation
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TRUST IS JUST AS VITAL TO HUMAN RELATIONSHIPS AS BREATH IS TO LIFE AND JUST AS ELUSIVE. IS THIS ILLUSTRATED FOR US IN LANTARNA? Without trust present from the beginning‚ a relationship cannot work. Marriages cannot develop overtime if there isn’t a strong foundation built on trust. Sometimes‚ however‚ trust can be destructive. In Lantana‚ one of the very affecting moments of the film comes when Jane asks Paula how she knows that Nik didn’t murder or harm Valerie Somers. She answers with “Because
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both fully secret trust and half secret trust can be explained using either the ‘fraud theory’ or the ‘dehors the will’ theory. But whichever theoretical explanation is chosen the issue is largely academic‚ for in no practical sense does it ever matter which basis is used. Discuss. Secret Trust raises whenever the testator intends to create a trust‚ the terms of which are not expresses in the will itself. The will is used as an instrument to vest the legal interest of the trust property in the done
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Discretionary Trusts and the concept of a sham trust. (a) The central theme regarding trusts is that they are assets that are legally owned by the trustees and not the beneficiaries. In a discretionary trust‚ the trustees have discretion as to who among a class of beneficiaries should receive income and/or capital under the trust and in what proportion (e.g. Mettoy Pension Trustees Ltd v. Evans [1990] 1 WLR 1587). So until a beneficiary is chosen to receive income or capital‚ they do not possess
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Wilson | Building & Sustaining Trust | | Building and Sustaining Trust Can you imagine working in a place where you have no one to trust? You cannot trust your teammates to do their fair share‚ you cannot trust management to provide an atmosphere conducive to a positive work day‚ you cannot trust that the communication within the team will be positive and effective. There is no trust to be found. We are going to define and discuss trust and how it plays a part in a highly effective
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| Trust and relationship issues | 4Q-DRC401X-AB213-07-Principles of Conflict Resolution-Fall 2010 | | Anthony Kemp | 12/12/2010 | | Trust is a basic building block for all types of relationships. There should be one constant from the relationship of a newborn baby with its mother‚ to the relationship of allied countries‚ and any other relationship in between. That one constant should be trust. Without trust it is extremely difficult for any relationship to be maintained. A relationship
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Standard Oil Trust Standard Oil Trust John D. Rockefeller was born on July 8‚ 1839 in New York. He was among one of the richest people in the world. He formed the Standard Oil Trust in 1863‚ by 1868 the company had been established in Ohio‚ at that time it was one of the largest oil refineries in the world. The Standard Oil Company grew to dominate the oil industry and became one of the first big trusts in the United
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direction of courts when imposing a constructive trust upon a trustee de son tort. Constructive Trustee Constructive trusts are not confined to one definition. They are comprised of all trusts recognized and enforced by the courts that either resulting or express trusts. Express trusts are trusts are a design of the real intention of the parties however constructive trusts are ‘invitum’ (against the will or consent of the party) Constructive trusts are usually the result of gross violation of a
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Insecurities Sometimes the element of doubt troubles us when we’re in a relationship. We find the need to get jealous and somehow we don’t trust our partner. These insecurities can lead to the end of a relationship. If you don’t trust someone why did you make the decision of being with that person in the first place? Trust is the glue that keeps a relationship together without trust a relationship does not exist. When you see the person that you’re with someone else; don’t assume‚ don’t make up questions in
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