LL3106 - Property Law B (Equity and Trusts) (2024/25)
| Module specification | Module approved to run in 2024/25, but may be subject to modification | ||||||||||||||||||||
| Module title | Property Law B (Equity and Trusts) | ||||||||||||||||||||
| Module level | Honours (06) | ||||||||||||||||||||
| Credit rating for module | 24 | ||||||||||||||||||||
| School | Guildhall School of Business and Law | ||||||||||||||||||||
| Total study hours | 240 | ||||||||||||||||||||
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| Assessment components |
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| Running in 2024/25(Please note that module timeslots are subject to change) |
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Module summary
This module provides a sound understanding of the following:
1. The relationship between equity and common law, the nature of equity and the use of equitable principles and remedies in Property Law.
2. The concept and use of trusts.
3. The creation of trusts, trust powers and obligations
4. Remedies for breach of trust.
Prior learning requirements
2.2 Bachelor’s Degree or equivalent
Syllabus
Nature and Classification of Equitable Rights
The Nature of Equitable Rights and the relationship of Common Law and Equity
Trusts: definition, early history, classification and functions of the trusts in the modern economy
Liability of fiduciaries for secret profits
Constructive trusts and liability to account
Equitable charges
Equitable rights in land
Mere equities
Transfers of Property Rights
Legal Title
Personalty
Passing of legal title to goods by sale or gift
Assignment and negotiation of choses in action
Equitable Title
Dispositions of and priority between equitable interests
Formalities and certainties for creation of express trusts
Incomplete dispositions
Specific Performance
Constructive trusts arising from specifically enforceable contracts to sell
Incomplete voluntary transfers
Resulting trusts
Security and Restitution
Retention of legal or equitable title
Proprietary remedies; tracing at law and in equity
Intermeddling: trustees de son tort
Receivers from fiduciaries Fraudulent assistance
The Family Home
Co-Ownership Of Land
Creation at common law and /or in equity (including resulting and constructive trusts)
Property and Wealth Preservation
Taxation and trusts
Trusts for successive interests
Maintenance and accumulation trusts
Protective and discretionary trusts
Trusts of Land: strict settlements and trusts for sale
Advancements and variation of trusts
Management of funds: fiduciary duty, duty of care, investments, trustees powers
Wealth held for a purpose and in association
Non-charitable purpose trusts
Charities - definition, taxation and trust law advantages, administration, the cy pres doctrine
Unincorporated Associations
Means of property holding Construction and effect of gifts
Application of funds on dissolution
Unit trusts Pension funds
Trustees’ powers and obligations
Balance of independent study and scheduled teaching activity
Scheduled teaching comprises15 two-hour lectures and 15 90 minute tutorials.
Independent study comprises 87.5 hours of directed reading, research, class preparation and formative assessments.
Learning outcomes
Having completed this module, students will be able to do the following:
1. Understand the contrast and relationship between legal rights and equitable rights, the principles of equity/equitable remedies and the use of equitable principles and remedies in Property Law.
2. Understand the concept of a trust; appreciate the purposes for which trusts exist; understand how trusts are created; trust powers and obligations and remedies for breach of trust.
3. Demonstrate the ability to write critical, discursive essays relating to the topics covered in the syllabus.
4. In the context of the Law of Equity and Trusts, to demonstrate a basic ability to bring together information and materials from a variety of different sources; to produce a synthesis of doctrinal and policy issues; and to make a critical judgment of the merits of particular arguments.
5. Demonstrate an ability to use appropriate legal terminology and language in the context of the Law of Equity and Trusts.