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Topic 5: Equitable Assignment of Legal Property
70517 - Equity and Trusts
3 Found helpful • 12 Pages • Topic Notes • Year: Pre-2021
ASSIGNMENT OF PROPERTY LECTURE SUMMARY: 2 BASIC APPROACH TO ASSIGNMENT 2 TYPES OF LEGAL PROPERTY 2 TYPES OF DEALINGS WITH PROPERTY 3 1. Assignment 3 Some rights cannot be assigned: 3 o Exceptions: 3 Requirements for a valid legal assignment of legal property 4 Legal requirements for valid transfer of land 4 Legal requirements for valid transfer of debt or chose in action 4 Agreement to Dispose of an interest in land – must be in writing. 5 3. Declaration of Trust; 5 Revocable Mandate 6 FUTURE PROPERTY 6 Examples of future property assignable in equity include: 6 IF REQUIREMENTS HAVE NOT BEEN COMPLIED WITH, WILL EQUITY RECOGNISE THE INTEREST? 8 General principles in equity: 8 Equitable Assignment of Legal Property 9 A How does requirement for legal assignment fail? 9 B Equitable assignment of legal property for consideration 9 C Voluntary assignment of legal property assignable at law 9 1. General Rules: Rule in Milroy v Lord (1862) 45 ER 1185 10 Shares 11 3. Torrens Title Land 11 D Voluntary assignment of legal property not assignable at law 12
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