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Foundation Property Writing Task - Essay Example

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Summary
Constructive trusts can be grouped in the category of implied trusts, as they are established by the effect of a court ruling or the law, pertaining to any transfer of assets. Hence, they are different from express trusts where the settlor is the sole creator of the trust, with…
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Foundation Property Writing Task
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Foundation Property Writing Task

Download file to see previous pages... As a particular constructive trust would relate only to the specific property, the legal professionals also call it as a “proprietary” remedial method of solving the particular disputes….(Duhaime , 2009)
Trusts are frequently established in a will, which could be called as a trust instrument, where the settlor is referred to as a testator. Hence an express trust implies that the settler has expressed a wish to establish the will. However, there is no explicit intention on the part of the settlor to establish a constructive trust. The establishment of such trusts is the consequences of legal responses to the events that might have been encountered during any property transactions.
Accordingly, the purpose of constructive trusts should revolve about its binding effect on the issues of law in developing the major issues like honoring commitments, disgorging gains and repairing losses. Hence, the rationale behind the constructive trusts should consider these three main themes, while discussing the obligations and rights under the property law. As no firm and agreed list of rules is available under the English law, which could govern the constructive trusts, their rationale and guidance comes from various court cases, where the concerned judges have suggested rules for the constructive trust, pertaining to specific case. Accordingly, five rules on constructive trusts are briefly summarized below:
However, these and other rules that bind the foundation of constructive trusts being heterogeneous in nature, there have been a fair amount of confusion about the concepts of such trusts and the liabilities involved in referring to the same. Accordingly, the above rules remain debatable, when judged under different circumstances. For example, it may be a mild punishment for an honest trustee to surrender his term, after he has renewed the ...Download file to see next pagesRead More
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