Write 10 page essay on the topic What does an examination of 'secret trusts' mean Rationale behind the Secret Trust.Download file to see previous pages... He is the beneficiary of a generous trust set

Write 10 page essay on the topic What does an examination of 'secret trusts' mean Rationale behind the Secret Trust.

He is the beneficiary of a generous trust set up by his father" his condition or obligation of one to whom anything is confided. responsible charge or office." We can summarize the term trust in this manner.Secret and half-secret trusts are invented by English. They have come into existence on the slender of grounds, and been nurtured over the years because nobody seems to have the heart to put them out as it is deep rooted in the field of trust. The trust property is something held by one party for the benefit of another and the first party is called as the trustee and second party is the beneficiary. The main intention behind the creation of trust is that the devisee or grantee shall convey it, or dispose of the profits, at the will, or for the benefit, of another. an estate held for the use of another. a confidence respecting property reposed in one person, who is termed the trustee, for the benefit of another, who is called the cestui que trust.Law of equity and trust confers the provision regarding the trust. It laid down several duties and responsibilities for the trustees. As said before, generally we can define the a trust as a capacity by which a person can transfer title of the specific property to another who agrees to hold or manage it for the benefit of a third person. But when a person transfers his property to another person by way of gift or any other manner and it is implied that the same is to be kept as the trust on behalf of the beneficiary, then what will be the status of such property. Law of trust dealt this, with the provision of secret trust. Whenever we analyze the scope of secret trust, the importance of scope of implied trust can not be excluded.

Any description of trust includes an implied resulting or constructive trust and a bare trust. (1) (Sub-section (1) (a), Trust of land and Appointment of trustees Act 1996) an implied trust is based on the presumed intention of the parties at the time the property is acquired by the resulting trustee. That is the point at which the contributors' beneficial interests crystallize. The beneficial shares are unaffected by subsequent conduct. This scope of implied trust has been rightly explained in

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1. Trust of land and Appointment of trustees Act 1996,

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in Cowcher v Cowcher (2).In the context of above, We shall examine the scope and rationale behind the provision of secret law under law of trust.

Scope of secret trust

A secret trust is an undercover arrangement between a testator and a trustee which operates outside the terms of the will. Equity enforces the settler's true intentions to benefit a third party even though this is contrary to the provisions of the Wills Act 1837, which was itself based on long-standing principles of the old Statute of Fraud 1677.

Until 1677, there was no formality attached to the making of the will. Before the enactment of the 1677 statute any person could deceive in the name of bequest as it was made on behalf of him. But 1677 statute put an end to this fraud play by laid down the provision of importance of signature and writing at the time of making Will. It was extended to all assets under the section 9 of the Wills Act 1837.

Will's Act is an anti-fraud provision. It imposes series of formalities that has to be complied with so as to ensure the will of the testator is being genuine and not fake. E.g. forbidding any gift which is made in favor of the witnesses and their spouses s15 (WA 1837) stipulation of compulsory requirement of codicil amendment of will.( sec.20,WA 1837)

A secret trust arises when a testator wishes, for whatever reason, to transfer the benefit of property to a person without specifying that person as a legatee under his will.