Wills & Trusts Law Reports | March 2016 #157The first and second defendants are a married couple. The defendants purchased 17 Blackmore Crescent, Woking, Surrey (the property) in 1997. The purchase was financed in part using a loan secured on the property.
By declaration of trust dated 14 January 1998 (the trust deed), the first defendant transferred his beneficial interest in the property to the second defendant. Under the terms of the trust deed, the property was to be held upon trust for the second defendant, who was to have sole use and occupation of the property and was to indemnify the first defendant in respect of th...
Divorce case Arif v Anwar and Rehan [2015] raises interesting points on beneficial ownership and also costs, as Penelope Reed QC and Nicholas Fairbank report ‘There are no winners when the overall assets are reduced so significantly by the legal costs that adequate provision for the parties is circumscribed.’ In Sofia Arif v Arif Anwar, …
Continue reading "Trusts And Divorce: Family divided"
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