The beneficial ownership of the main family asset i.e. the family home, is of such importance that it warrants separate treatment. Since the mid-twentieth century the courts have been pro-active in attempting to resolve family disputes as to the beneficial ownership of assets by reference to the trust concept.
The Law Commission recognised the complex nature of the law in this area and recommended proposals for reform of the law. However, the Government has recently declared its intention not to introduce legislation within this Parliament to endorse the Law Commission proposals. The task has therefore been left to the courts. Accordingly, in a number of definitive cases culminating in Stack v Dowden and Jones v Kernott, it seems to be settled that the common intention constructive trust is the preferred option in determining the beneficial ownership of the family home, as opposed to investment properties.
The aim of this lecture is to explain the development of the law and to consider the evidence that may be admissible to prove a common intention to share the family home and to quantify the division of the interests between the parties. Moreover, the solution with regard to investment properties and other assets will be examined in this lecture.
Lecturer: M Ramjohn
Duration: 62 minutes (approx)
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More lectures on the Law of Trusts
- Liability of third parties
- Charitable Trusts
- Trusts of the family home
- Constructive trusts
- Secret trusts
- Private purpose trusts
- Tracing Q&A
- Creation of express trusts
- Unincorporated associations
- Resulting trusts
- Constitution of a trust Q&A
- Exceptions to the rule that equity will not assist a volunteer.
- Constitution of an express trust
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