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The central issue is the "complete constitution of voluntary trusts".
Member rating: No Rating | Words: | Submitted: Mon Aug 09 2004
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Table of Contents: Iconia: 1 Has Rowena Acquired Legal Title? 1 Has Rowena Acquired Equitable Title? 1 Instrument of Transfer: 2 Certificate of Title: 3 Less Likely Conclusion: 4 Most Likely Conclusion: 4 Postage Stamp: 5 Interest Free Loan: 7 Shares in Company C: 8 Diamond: 10 Painting: 11 Credit Balance: 12 Antique Vase: 14 The central issue is the "complete constitution of voluntary trusts"1. We begin with the declaration by Turner LJ in Milroy v Lord2 that "there is no equity to perfect an imperfect gift"3. This statement has been confirmed in Olsson v Dyson4. Iconia: Has Rowena Acquired Legal Title? Rowena has not acquired legal title to Iconia since she is not the registered owner of the property pursuant to sections 60(1) and 181 of the Land Title Act5(LTA). Therefore it must be determined if she has acquired equitable title to enable her to call for legal title. Has Rowena Acquired Equitable Title? High Court authority in Corin v Patton6 dictates that equity will recognize a gift of Torrens Title land if the intending donor (Jeremy)...
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