Friday 8 April 2011

11 - Private purpose trusts

Source - Unlocking Trusts

Here is the summary of this chapter:

1) Introduction - Trust for certain "private purpose" instead of a set of individuals. See the principle laid in Astor's case

2) Valid of PPT - They are void for: (a) Lack of beneficiary principle (b) Uncertainty of objects (c) Infringement of perpetuity rule

3) Exceptions - PPT for (a) maintainence of animals (b) Construction of memorial / monument (c) Saying of masses (d) See the Denley principle where though general purpose if found to be for the benefit of certain individuals was held valid

4) Gift unincorporated associations - (a) Void if it is for the promotion of a purpose (b) Valid if it is a (i) Trust for present members (ii) Gift to members. This may be x) Gift to present members as joint tenants xx) Gift to members as accretion to funds xxx) Gift to present and future members. See the Neville's case...

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