This claim concerned a property. The freehold had belonged legally and beneficially to J who had run a business of a pub and restaurant from the property in partnership with her husband B. J died in 1997. On her death the property passed by her will to her executors and trustees, essentially for the benefit of B for his life and, subject to B’s interest, for J’s three children in equal shares (the will trust).
The claimants were the current trustees of the will trust and hence the legal owners of the freehold of the property. The first defendant was J’s son (one of the beneficiari...
Continue reading "Proprietary Estoppel: One day all this will be yours"
This was the hearing of an application for strike out of a Part 20 claim or alternatively summary judgment in favour of the defendants where the underlying proceedings related to two separate trusts: a settlement of land and other assets created on 18 February 1967 by Charles (the settlement) and a will dated 15 March 1998 of Charles’s son, John, who died on 20 December 2004 (the will fund).
The claimant in the underlying proceedings had sought declaratory relief regarding the construction of a March 2007 deed, alternatively rectification of it, whereby the trustees of the will fu...
In 2002, the appellant and the respondent set up home together in a house in Droitwich. They remained unmarried. The property was purchased in the appellant’s sole name with his money alone, and he took on sole responsibility for the mortgage. On the breakdown of their relationship, the respondent claimed that the appellant held the property was held by him on constructive trust for both parties in equal shares. That claim failed before His Honour Judge Pearce-Higgins QC, but her alternative proprietary estoppel claim succeeded. The respondent was awarded £28,500 in satisfaction of the e...
Continue reading "Equitable Interests: Showing an interest"
John Vincent Sheffield (JVS) and his wife Ann Sheffield bought 1,000 acres of land in Hampshire in 1968 as tenants in common, with JVS owning 25% and Ann 75% (the 1968 settlement). The land included two farms, numerous residential properties and some shooting rights over adjoining land. Ann died in 1969 and left JVS a life interest in her estate and thereafter to their son Julian. In 1971 JVS married France (who predeceased him) and he lived on the estate until his death in May 2008.
In May 1976 JVS agreed a farming partnership of the farming land on the estate. JVS was entitled ...
In 2001 Mr Pagel (P) and Mr Farman (F), set up a hedge fund. At first they shared responsibility for marketing and investment equally, but F began to concentrate on investing and P dealt with marketing and client relationships and F began to find the split unfair, so that from 2004 the 50/50 split was renegotiated and F received two thirds of the performance fees, but paid the cost of fixed employee bonuses and shared management fees 50/50 with P. Initially, both partners had to sign confirmations for all withdrawals but from autumn 2006 this only applied to amounts over £5,000. For a nu...
In 1971 Michael Walden purchased a property from his grandmother and as part of the agreement she could live in the property for life.
In 1975 he verbally agreed to sell the property to his uncles Dennis and Maurice Walden for £15,000, with £8,000 of the purchase price left outstanding as an interest free loan repayable on the second of Dennis and Maurice to die. This was less than half the property’s actual value. Dennis and Maurice agreed that on their death the house would revert to Michael or his children if he had already died and in the meantime he would pay for all maintena...
The claimants were the executors of the late Constance Jenkins (M), and, by representation, the executors of the late Kenneth Jenkins (F). F died on 21 October 1995 and M died on 15 January 2005. The defendants, F and M’s children, disputed the devolution of their parents’ estates and the court’s direction was sought.
F and M had owned a farmhouse and land extending to some 210 acres on the Isle of Wight as beneficial tenants in common (Ashey). F and M owned other land, in some cases jointly and in others cases individually. One such further holding consisted of 26 acres, known as...
The first appeal concerned two settlements, made with non-resident trustees, by Mr Futter. Considerable ‘stockpiled’ gains were rolled up while the trusts were non-resident and, in exercise of the powers conferred by the trusts, new resident trustees were appointed and capital was distributed to Mr Futter and his children in the mistaken belief that the ‘stockpiled’ gains, which would be attributed to them, would be absorbed by allowable losses that had been realised, so that no liability to capital gains tax would arise. In advising as to the effect of s87 of the Taxation a...