Tag Archives: Family Trust

Property law questions. 2022 Best

Property law questions.

For today’s assignment we will focus on answering property law questions. Suggested total word limit: 2000   1. Recipient liability is based on infirm foundations and the test for all accessory liability should be based on the level of dishonesty in the transactions. Critically evaluate the imposition of liability for breach of trust on those who receive or participate in a breach of trust duties.

Property law questions.

Suggested total word limit: 2000 Suggested word limit per question: 1000 Please state the word count at the top your answer sheet. Instructions: Answer TWO of the following SIX questions. Reference as per instructions Credit will be given for a useful range of relevant authority. Answer TWO of the following SIX questions. 1. Recipient liability is based on infirm foundations and the test for all accessory liability should be based on the level of dishonesty in the transactions. Critically evaluate the imposition of liability for breach of trust on those who receive or participate in a breach of trust duties.

Property law questions.

2. Cher was a trustee of the Bishop Trust, who had assets of £60,000. To make running the trust easier she placed this money in her own bank account which had £20, 000 in it already. In 2019 she purchased a painting for £25,000 which has now been valued at £50,000. She then used £15,000 to pay off a loan which she had taken out to purchase a collection of valuable gold coins. In 2021 she was appointed as trustee of Digger Family Trust, with assets of £1 million. In breach of trust she took £100, 000 from that trust and placed that in her own bank account, making a balance of £140,000.

Property law questions.

Thinking it was a good idea, she took £100,000 from the account to invest in Ecurrency which she sourced on the internet. Sadly this turned out to be a scam and the money was lost. Cher has since been declared bankrupt and left the country. Advise the trusts on any remedies that they may have. 3. Eunice left £5 million on trust, with Lettie and Morag as trustees. It was to be held for Gloria for life then to Hector (now aged 21) and Juliet (now aged 15). Lettie and Morag decided to invest £250,000 of trust money in Futures Ltd and £250,000 of trust money in Grounds Ltd.

The Futures Ltd investments have risen in value to £300,000, but the Grounds Ltd investments have fallen in value to £200,000.

Property law questions.

Morag’s friend Amit owns a UK business that needed money to continue operating. Morag convinced Lettie that it would be a good investment, so they invested £100,000 of trust money in Amit’s business. That investment has fallen in value to £80,000. Gloria has asked for some capital from the trust fund to purchase a house for her to live in. And Juliet has asked for £20,000 to pay for a two week course on abstract art in the modern world. She is a very good young artist but Lettie and Morag are unsure of spending so much on this course. Advise the parties on the following.

Property law questions.

(i) Have the trustees made suitable investments? (ii) Can they provide the sums requested by Gloria and Juliet? (iii) If the beneficiaries are unhappy can they remove the trustees? 4. A fiduciary who receives a profit from their position should always hold that profit on trust for the principal. Explain and evaluate the situations when this imposition is applied. 5. In 2018 five friends Dodi, Ethel, Flora, Gaudi and Husna, purchase Juniper House to run as a bed and breakfast. It is conveyed to them as ‘joint tenants in law and equity’.   https://youtu.be/5lTCdph90BU

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