Constitution of a trust and formalities
DOI link for Constitution of a trust and formalities
Constitution of a trust and formalities book
In Chapter 4 we considered the ‘three certainties’ test as a means of establishing a valid declaration of trust. In this chapter we will progress to put together the essential building blocks for the creation of an express trust. The theme here is to ascertain whether the trust property has been vested in the trustee and its effect. When the property has been acquired by the trustee subject to a valid declaration of trust, the trust is said to be ‘perfect’ or ‘completely constituted’. Occasionally, the settlor is required to comply with specifi c formal requirements as laid down by Parliament.