Re Boyes
1884 · (1884) 26 Ch D 531
Posted By lanbuk.com
- Facts
- A testator left property to his solicitor, who agreed to hold it on on terms to be communicated later. The terms were found only after death.
- Issue
- Was there a valid ?
- Held
- No. The terms had not been communicated during the testator's life. The solicitor held the property on for the next of kin, because he admitted he was a trustee.
- Principle
- The terms of a fully secret trust must be communicated before the testator's death.
- Why it matters
- It shows the communication rule and what happens when a secret trust fails.
Words and Latin in this note
- Resulting trust
- A trust under which the beneficial interest goes back to the person who provided the property, because he is presumed not to have meant a gift, or because an express trust did not use up the whole interest. Open the note.
- Secret trust
- A trust that a legatee under a will has privately agreed to carry out. In a fully secret trust the will shows no trust. In a half-secret trust the will shows a trust but not its terms. Open the note.
- Trust
- An arrangement in which a trustee holds property at law but must use it for beneficiaries, or for a charitable purpose. The beneficiaries have the equitable interest. Open the note.
For study only. By lanbuk.com. Always check current sources and consult a qualified professional.