3. Capacity and formality requirements

Gary Watt
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Abstract

Without assuming prior legal knowledge, books in the Directions series introduce and guide readers through key points of law and legal debate. Questions, diagrams and exercises help readers to engage fully with each subject and check their understanding as they progress. Expressly created trusts are a special form of gift that do not require any formality. However, formality is extremely important with regard to the subsequent transfer of beneficial interests after the creation of a trust and with regard to trusts made by will (so-called testamentary trusts). Not everybody has the capacity to create a binding trust; where there is no capacity it is mainly due to poor mental health or minority (infancy). This chapter deals with capacity and formality requirements in relation to the creation of trusts and considers inter vivos transactions, the relevant provisions of the Law of Property Act 1925, lack of formality as a defence to disguise a fraud and testamentary trusts. It also examines whether a would-be settlor is legally capable of setting up a trust and discusses the equitable interest under a trust in compliance with the proper formalities, trusts for which there are no formality requirements and valid ‘mutual wills’ and ‘secret trusts’.
3.能力和形式要求
在不假设之前的法律知识,在指导系列书籍介绍和引导读者通过法律和法律辩论的关键点。问题,图表和练习帮助读者充分参与每个主题,并检查他们的理解,因为他们的进展。明示设立的信托是一种不需要任何手续的特殊赠与形式。然而,对于信托成立后实益权益的后续转让,以及关于遗嘱信托(所谓的遗嘱信托),形式是极其重要的。不是每个人都有能力建立一个有约束力的信托;在没有能力的情况下,主要是由于心理健康状况不佳或少数民族(婴儿期)。本章涉及与设立信托有关的能力和手续要求,并考虑到人之间的交易、1925年《财产法》的相关规定、缺乏手续作为掩饰欺诈的辩护和遗嘱信托。它还审查了准财产继承人是否在法律上有能力设立信托,并讨论了符合适当手续的信托下的衡平法权益、没有手续要求的信托以及有效的“共同遗嘱”和“秘密信托”。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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