Daisy Brown explores how the courts will apply equitable accounting principles to co-owned trust property ‘The basic principle of equitable accounting between co-owners is that the financial benefits and burdens of the trust property are adjusted between them with reference to the proceeds of sale.’ In the judgment handed down on 7 April this year …
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Wills & Trusts Law Reports | Summer 2017 #168The respondents (Rs) are a married couple but at all times after 2001 were estranged and living apart. The wife (R2) purchased a property (the property) in 2003 using monies from another property owned by her and the remainder by interest-only mortgage. The title to the property was in R2’s sole name and she moved in with her children. The husband (R1) never lived in the property.
Shortly after purchase, Rs signed a declaration of trust declaring inter alia that R2 held the property on trust for herself and R1 in equal shares, that she would register R1’s interest and ...
