Beneficiary principle essay

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This piece analyses the fundamental principles of the trust concept and argues that the statement above is misconceived. It follows that if the human beneficiary principle is fundamental to the trust, charitable trusts must be seen as an exception since they are enforceable by the Attorney General acting as parens patriae [6] and do not involve any beneficial ownership of the property. The relational concept of duty is consistent with rationale behind the human beneficiary principle and the courts seem to apply this concept in determining the validity of the trust. If the beneficiaries have no rights enforceable against the trustees there are no trusts. He asserts that in its most generic and fundamental form, the trust is a rule-based duty which does not necessarily involve co-relative rights.
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Property Law Free Essay Sample

Please join StudyMode to read the full document. Settlor can convey property to a trustee on trust for himself. Indeed, under the terms of the trust , the settlor may give such powers to anyone he chooses. Lay-out of materials These lecture Where one person is legally obligated to hold an asset for the benefit of another person Incomplete description; trusts can arise where one person is legally obligated to hold an asset for a specified purpose and not for an individual person…e. Trustor means owner of the property, which enjoys extended bundle of rights over his property.
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The Principle "Polluter Pays"

This scenario relates to the purported creation of a trust. The first issue to determine is whether this is sufficient to create a trust. One of the principal requirements for the successful establishment of a trust is certainty, and in this instance, certainty of intention is relevant. He also gives his mistress the keys to the safe which contain the title deeds, and thus he has delivered to her the legal title, in essence. This is sufficient to create the trust although as mentioned this is not a.
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In some cases the beneficiary principle has not been satisfied but the courts have held the trusts to be valid[1]. Examination of when the courts have taken this view is essential[2]. A discussion on purpose trusts is also necessary[3]. It is prudent to distinguish between charitable and non-charitable trusts despite the statement above that this is a non-charitable association. The rule against purpose trusts has been established in terms of the beneficiary principle.
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