STOP SEEING INTRUSIVE ADS, & HAVE PREMIUM FEATURES? Stop seeing intrusive ads and have a smoother reading experience, once you sign up on Judicial Poetry. Sign up now!

TRUST SIMPLICITER

Reach more audience. Place advert here.

Trust, simpliciter, is the right enforceable solely in equity to the beneficial enjoyment of property to which another person holds the legal title. It is a property interest held by one person (the trustee) at the request of another (the settlor) for the benefit of a third party (the beneficiary). For a trust to be valid, it must involve specific property. Certainty of subject matter is an important element in trust. It should reflect the settlor’s intent and be created for a lawful purpose.

— A. Fabiyi, J.S.C. Ibekwe v. Nwosu (2011) – SC.108/2006

Was this dictum helpful?

SHARE ON

trust

CONSTRUCTIVE TRUSTS – EQUITY WILL NOT ALLOW LEGAL OWNER RETAIN BENEFICIAL INTEREST

A constructive or implied trust is the formula through which the conscience of equity finds expression. When property has been acquired in such circumstance that the holder of the legal title may not in good conscience retain the beneficial interest, equity converts him into a trustee. See Beatty v Guggenheim Exploration Co. 122 N.E 378, Black’s Law Dictionary 7th Edition, Page 1513.

— P.A. Galumje, JSC. Huebner v Aeronautical Ind. Eng. (2017) – SC.198/2006

Was this dictum helpful?

CONSTRUCTIVE TRUSTS ON VALIDITY OF TITLE DOCUMENTS

Trust is defined at page 1513 of the Blacks Law Dictionary, 7th Edition as the right enforceable solely in equity to the beneficial enjoyment of property to which another person holds the legal title. Where a party claims certain property that is held in constructive trust for his own benefit, he has a duty to prove that the title document in possession of the trustee is valid and in proper custody. The moment he successfully contradicts and renders the title document in the name of the trustee invalid, his claim automatically fails, since the success of his claim depends largely on the validity of the documents of title in the name of the trustee.

— P.A. Galumje, JSC. Huebner v Aeronautical Ind. Eng. (2017) – SC.198/2006

Was this dictum helpful?

ONCE THERE IS A VALID CONTRACT FOR SALE, THE VENDOR BECOMES A TRUSTEE

Jessel, MR in Lysaght v. Edwards (1876) CH.D 499 stated the following on the doctrine of constructive trust:- “What is that doctrine? It is that the moment you have a valid contract for sale, the vendor becomes in equity a trustee for the purchase of the estate sold and the beneficial ownership passes to the purchaser, the vendor having a right to the purchase money, and a right to retain possession of the estate until the purchase money is paid in the absence of express contract as to the time of delivering possession … If anything happens to the estate between the time of sale and the time of completion of the purchase, it is at the risk of the purchaser; if it is a house to be sold and the house is burnt down, the purchaser looses the house. He must insure it himself if he wants to prevent such an accident. If it is a garden and river overflows its bank without any fault of the vendor, the garden will be ruined, but the loss will be the purchaser’s.”

Was this dictum helpful?

IMPLIED TRUSTS DOES NOT REQUIRE AGREEMENT BETWEEN THE SETTLOR & TRUSTEE

An implied trust founded upon the unexpressed intention of the settlor and same is raised and created by implication of law from the surrounding circumstances of the case. It does not require agreement between the settlor and trustee. See Adekeye v Akin Olugbade (1987) 3 NWLR (Pt. 60) 214 at 227; Kotoye v Saraki (1994) 2 NWLR (Pt. 357) 414 at 443 Paragraph H. Constructive trust is neither granted nor accepted, but it is foisted upon the parties by the operation of law. To that extent, the question of whether the Appellant produced evidence of the resolution of the Board of the Respondent authorizing such a trust does not arise at all.

— P.A. Galumje, JSC. Huebner v Aeronautical Ind. Eng. (2017) – SC.198/2006

Was this dictum helpful?

RESULTING TRUST IS BASED ON THE PRESUMED INTENTION OF THE PARTY

One other expression for resulting trust is implied trust. An implied trust is one founded upon the unexpressed but presumed intention of the settlor. Such trusts are also referred to as “resulting” because the beneficial interest in the property comes back or results to the person who provided the property or to his estate.

— N. Tobi, JSC. Ezennah v Atta (2004) – SC.226/2000

Was this dictum helpful?

STATE LANDS ARE FOR PUBLIC PURPOSES – SUCH LANDS ARE HELD IN TRUST

Their powers under the law are limited to leasing them to diverse persons, and accepting forfeitures and surrenders of leases. There appears to be substance in this contention. State lands in Nigeria invariably originate from compulsory acquisitions of such lands from individuals or communities for public purposes. Such lands are held in trust by the acquiring government for use for the public purpose for which the land was acquired and in accordance with the public policy of the state as enshrined in the laws of the state.

– Nnaemeka-agu, JSC. Ude v. Nwara (1993)

Was this dictum helpful?

No more related dictum to show.

TRUST SIMPLICITER

Reach more audience. Place advert here.

Was this dictum helpful?

CONSTRUCTIVE TRUSTS – EQUITY WILL NOT ALLOW LEGAL OWNER RETAIN BENEFICIAL INTEREST

Was this dictum helpful?

CONSTRUCTIVE TRUSTS ON VALIDITY OF TITLE DOCUMENTS

Was this dictum helpful?

ONCE THERE IS A VALID CONTRACT FOR SALE, THE VENDOR BECOMES A TRUSTEE

Was this dictum helpful?

IMPLIED TRUSTS DOES NOT REQUIRE AGREEMENT BETWEEN THE SETTLOR & TRUSTEE

Was this dictum helpful?

RESULTING TRUST IS BASED ON THE PRESUMED INTENTION OF THE PARTY

Was this dictum helpful?

STATE LANDS ARE FOR PUBLIC PURPOSES – SUCH LANDS ARE HELD IN TRUST

Was this dictum helpful?

What do you need help with?

Join Judicial Poets!

Recent answers

Recent Questions