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Property law - Essay Example

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According to the Land and Property Act of 19251, a statutory trust is created when there is a co-ownership of land. The basic question that is to be…
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Property law
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Download file to see previous pages Furthermore, it is Debra who has been making payments on the mortgage for five years and she was also the guarantor for Fred in the initial few years. As a result, she is the one who has a considerable financial investment in the house.
The basic principle that applies in the case of voluntary dealings is the presumption that a person making a transfer intends that the transferee remains a nominee only, while the person making the transfer is to retain a beneficial interest in the property2. This applies in the case of Fred, who originally had the title to the property, but later transferred it to Debra. It may be possible to apply proprietary estoppel on the basis of representation3, i.e, despite Debra owning title to the property, Fred is to have rights in respect of the property. As a result of such rights which Fred may have in the property because he has been living in the council house and the property was also in his name initially, his interests in the property may pass on a beneficial interest to Stan.4 But in this instance, it must be noted that Fred has not left a will, therefore the question of beneficial interest in the property passing through the will5 does not apply.
In arriving at a determination of whether or not equity will apply, Lord Scarman has stated that the conduct and relationship of the parties must answer three questions: “First, is there an equity established? Secondly, what is the extent of the equity, if one is established? And, thirdly, what is the relief appropriate to satisfy the equity?"6 Firstly, in establishing whether Fred was the substantial owner in equity, the question that arises is whether Debra allowed or encouraged Fred to assume that he had rights in the property, rather than a mere hope for such rights, which is not sufficient7. In this case, it was Fred who was the continuous resident of the council house and Debra was the one who moved back in with him. Furthermore, ...Download file to see next pagesRead More
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