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1. Philip and Rachel became friends and in 2001 Philip moved in with Rachel who owns her own house at 2 College Road. To please Mabel, Philip’s mother, who was concerned about her son’s lack of security, Rachel agreed that the house could be transferred
Member rating: No Rating | Words: 1700 | Submitted: Tue Feb 05 2008
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1. Co-ownership regulates the relationship between two or more persons who have interests in the same property simultaneously which can be examined both by statute1 and common law. Rachel was the sole owner of 2 College Road since 2001, when she agreed that Philip could contribute half of the home value for the property to be transferred into joint names. Since in Law the only type of co-ownership is the joint tenancy2, we have to examine their co-ownership in equity and the type of trust which might be express and has to be written or implied and does not have to3. In the above case there is an implied resulting trust, even though a constructive trust might exist because of their agreement, since both of them contributed directly to the purchase price of the property. A similar case of resulting trust is Pettit v. Pettit4, where the claimant had an equitable interest in...
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