EQUITY AND TRUSTS

Equity and Trust



Part A

Act 1925 states:

“A disposition of an equitable interest or trust subsisting at the time of the disposition, must be in writing signed by the person disposing of the same, or by his agent thereunto lawfully authorized in writing or by will.”

The policy of the enactment of this section was to prevent fraud preventing oral "hidden" on transfers of any movable or immovable property. The effect of the provision is that writing, executed by the assignor provided the interest of fairness, is mandatory. An oral provision of course is zero. The signature of the transferor or his officially designated representative in writing shall be sufficient compliance with the requirements of sub-section. The purpose of s 53 (1) (c) of the Property Law Act 1925 was twofold: first, to avoid verbal communication hidden in deception impartial interests of those allowed to possessions and also to facilitate custodians of welfares reasonably discern when found on a single occasion. 

Consequently, by a provision of an impartial interest takes effect, not a requirement for the presence of a signature by the party concerned. Has stopped to a provision in two documents, when taken as one, is adequate to meet possible s 53 (l) (c). "Disposition" The expression is an extensive person, which adds a number of means for the reallocation of impartial interest, containing the transactions of interest rates and fair, although not automatically require that the interest of fairness has been damaged. Giving up a reasonable interest or to classify the being which must be released to an equitable interest in a pension fund is not available to cause such interest. Notably, a finding of dependency is not a provision of an interest just because a claim of a trust affects the formation of a fair share instead of a provision of a pre-existing equitable. 

Therefore, s 53 (1) (c) does not correspond to the statements of the trusts. Article 53 (1) (c) of the Property Law Act 1925 does not apply in relation to a financial guarantee agreement. This is an operation to provide security at the complex financial transactions, especially financial derivatives, where the cash or securities transfer of shares each equal to the net exposure of the other parties in relation to the value market price of any outstanding transactions between them. 

The outlook mainly imperative that s 53 (1) (c) has worked in the reported cases were allied with the stamp. Stamp duty is a tax levied on documents transfers of certain types of property between individuals. Therefore, the obligation to be there a letter from a provision of a fair share is the result of generating a document that should be easily accessible, which will be generating a tax liability. Consequently, it was important to taxpayers in a number of situations to try to show that the transfer of ownership came into force without the need for a written document. This would avoid the s 53 (1) (c) and concomitant avoid ...