UUÂãÁÄÖ±²¥

View the related practice notes about Rule against perpetuities

Resulting trusts

Resulting trusts represent one of the three types of trust which do not require to be declared or evidenced in writing. The others are constructive and implied trusts, although it is perhaps doubtful whether there is any form of implied trust which is not in fact either a resulting trust or a constructive trust (‘implied’ often being used simply as a synonym for ‘resulting’ or ‘constructive’ in this context).Categorisation of resulting trustsResulting trusts are either presumed or automatic.A presumed resulting trust arises:•where there is a voluntary transfer of property by one person to another, or•where title to property is put into the name of someone other than the person who has provided the purchase money or other consideration for the acquisitionAn automatic resulting trust arises where the disposing party has failed to dispose of their entire legal and beneficial interest in the property which is the subject of the disposal.Presumed resulting trustsVoluntary conveyanceThe presumption of a rebuttable resulting trust arises on the voluntary transfer of personalty. However, the position is...

Essentials of a charity

Essentials of a charity NOTE: Save as where it may otherwise be stated, the law referred to in this Practice Note applies to England and Wales only. There is no simple method of identifying a charity. Some will be registered by the Charity Commission but many will not. Defining a charity A starting point is the statutory definition which defines a charity (for the purposes of England and Wales) as: ‘an institution which (a) is established for charitable purposes only, and (b) falls to be subject to the control of the High Court in the exercise of its jurisdiction with respect to charities.’ Consequently, in order to be a charity there must be: • an institution • established for charitable purposes • subject to the control of the High Court As can be seen there is no mention of 'registration' and this is because registration is neither a characteristic nor a requisite of being a charity. Indeed, there are financial and other restrictions on the right of charities...

View the related precedents about Rule against perpetuities

SIP trust deed

SIP trust deed [insert name of company] Trust deed [insert name of company] Share Incentive Plan This Deed is made on BETWEEN 1 [INSERT NAME OF COMPANY], a company registered in England and Wales under number [insert company number] (the Company) whose registered office is at [insert address of company]; 2 [INSERT NAME OF TRUSTEE], a company registered in England and Wales under number [insert company number] whose registered office is [insert address of trustee] (the Trustee). Whereas: 1 The Company wishes to establish a share incentive plan known as the [insert name of company] Share Incentive Plan (the Plan) which satisfies the requirements of Schedule 2 to the Income Tax (Earnings and Pensions) Act 2003. 2 The establishment of the Plan was approved by a resolution of the Board passed on [insert date on which the board resolution was passed]. 3 The Trustee has agreed to be the original trustee of the Plan. Now this Deed witnesses as follows: 1 Definitions and...