WebJan 27, 2024 · The case of Akers v Samba Financial Group [2024] UKSC 6 noted that “transmission of property is governed by the lex situs”. This is the law of the place where … WebFeb 24, 2024 · V wanted to make a donation to X. He was the beneficiary of a trust fund of many shares in company 1. To minimise tax he orally instructed the trustees to transfer legal and beneficial ownership to X, but he incorporated company 2 (a trust company with his children as beneficiaries) which would have an option to buy back the shares at a low …
bits of law Trusts Formation Gifts & Tranfers: Overview
WebGREY, OUGHTRED AND VANDERVELL-A CONTEXTUAL REAPPRAISAL SECTION 53(l)(c) of the Law of Property Act 1925 enacts that a disposition of a subsisting “equitable interest or trust’’ must be made in writing if it is to be effective.* It is a provision of considerable practical importance in all fields where the division between legal WebJun 27, 2024 · In Grey v IRC it was held that a direction by a beneficiary to trustees to hold on trust for another is a disposition within LPA 1925 s53(1)(c), this principle reflects … the gummy bears disney
Gray v Inland Revenue Commissioners [1994] S.T.C. 360 (09 …
WebDec 30, 2024 · In Grey V IRC, the court held that disposition of equitable interest should be in writing. The Lagos state law provides that writing or oral conveyance may suffice. Where the settlor disposes the property to trustee by will. (the trust arises after the death of … WebIn Grey v IRC [1960] AC 1, HL, the House of Lords decided that an oral direction by an equitable owner to the trustees of a trust fund to hold the property upon trust for another was a purported disposition and void for non-compliance with s 53(1)(c). CASE EXAMPLE. WebGREY and another. v.COMMISSIONERS OF INLAND REVENUE. 2nd November, 1959. Viscount Simonds. Lord Reid. Lord Radcliffe. Lord Cohen. Lord Keith of Avonholm. … the bari tribe of venezuela believe that: