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YADQATL

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YADQATL

Postby shootist » Wed Apr 20, 2016 6:38 am

Yet another daft question about Trust Law.

I assume that in the ordinary course of events, if a group of individuals want to arrange a trust in connection with land ownership they would breeze along to a solicitor who would produce a document with the word 'trust' mentioned frequently and which would bind those people participating into a trust.

In the course of stumbling about trying to grasp at least a straw of law on the subject I have gained the impression that it is possible that the same group of people could arrange circumstances, probably with documents signed by them, that in law will set up a trust in fact even though the word is never mentioned, and indeed never thought of as such by the participants. Is it possible that a trust could be brought into being in such an ad hoc fashion?
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Re: YADQATL

Postby atticus » Wed Apr 20, 2016 1:50 pm

Yes.

It is the substance of what is said/agreed that counts.

Trust obligations may be implied by persons' conduct.
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Re: YADQATL

Postby shootist » Wed Apr 20, 2016 1:58 pm

Many thanks for that. I am in that unfortunate position of having to try and explain to someone who's knowledge and understanding of the legal processes are still less than mine (no mean feat) but who is insistent that for a trust to be formed there has to be a specific action and associated documents that formally set up a trust, and that therefore if such things are not done then there cannot be a trust. This is quite a task when neither party really understands the issues, but at least I appear to be on the right track.
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Re: YADQATL

Postby atticus » Wed Apr 20, 2016 7:01 pm

The important thing to note is that there is no requirement for anything to be in writing or for any magic words to be used. If you behave in a way that shows you have assumed trust obligations, a trust exists and you owe duties accordingly.

Suggest to your doubting friend that he searches online for the phrase "constructive trust".
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Re: YADQATL

Postby dls » Wed Apr 20, 2016 8:30 pm

The point about constructive trusts is exactly that those involved have taken no steps to create any formal documented trust, but that they have behaved in such a way that the law creates/constructs it for them.
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Re: YADQATL

Postby shootist » Wed Apr 20, 2016 8:48 pm

Thanks again. I made the mistake of doing a search on the term 'constructive trust'. Once the codeine kick in I'll just send the link to someone I hate.
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