The current approach to certainty of objects in discretionary trusts creates more uncertainty than it resolves. Express Trusts: The Three Certainties. A trust relationship is where the legal title is owned by the trustee and the beneficial interest is held by the beneficiary  . We are told that Michael has said to his daughter that “I promise to transfer to you within the year certain property”. Being a recent graduate in law myself, I can understand that Equity & Trusts as a module can be tricky for many students and takes time to grasp the area. Introduction to Express Trusts 1.1. The document includes key cases as well as an answer structure for the Three Certainties question. A trust provides a legal owner to be able to deal with property for the benefit of those who cannot or do not want to deal with it. Discuss.
This is known as the ‘three certainties’; certainty of subject matter, certainty of objects and certainty of intention. However, surrounding case law has detrimentally affected their efficacy.’ Discuss critically this statement. Certainty Of Subject Matter Law Equity Essay.
Chapter 3: Outline answers to essay questions. LAWS11010 Property Law I 2015- B. The first issue to determine is whether this is sufficient to create a trust. Equity and trusts problem question (1500 words) This scenario relates to the purported creation of a trust. The Parties to an Express Trust Settlor: has absolute ownership of property until the trust is created Trustee: legal ownership of property once trust is created The Certainty Of Subject Matter Law Equity Essay ‘The three certainties are essential to justify the validity of an express trust. Introduction : the test for certainty of objects previously required a complete list of beneficiaries (IRC v Broadway Cottages). Certainty of intention refers to a specific intention by a person to create a trust arrangement whereby Trustees (which may include himself) hold property, not for their own benefit but for the benefit of another person. - Three certainties, constitution and formalities - Terms of the trust and powers of the trustees: think carefully about what the terms of the trust are and what the trust actually entails, think about the different ways in which it could be understood.