10 Questions
What is the issue that arises when a trustee conveys property to a beneficiary without their knowledge?
Erosion of trust
What type of agreement is made between the trustee and the beneficiary in a trust?
Mundum agreements
What is overreaching in the context of trusts?
When a beneficiary's interest is detached from the land, and the trustee sells the property
In the case of Burgess v Rawnsley, what was the outcome regarding oral agreements?
The court accepted the oral agreement to sell the property
What is the result of overreaching in a trust?
The beneficiary's interest is detached from the land, and they only receive the proceeds of the sale
What is the issue that arises when a trustee conveys property to a beneficiary without their trust?
Erosion of trust
What happens to the beneficiary's interest in the land when a third party purchases it from the trustee?
It is detached from the land
What is the significance of the case of Burgess v Rawnsley in the context of trusts?
It is okay to accept oral agreements between the trustee and beneficiary
What is the result of the trustee selling the property to a third party without the beneficiary's knowledge?
The proceeds of the sale are received
What is the name for the process where the beneficiary's interest in the land is severed when a third party purchases it from the trustee?
Overreaching
Test your understanding of trust law concepts, including overreaching and oral agreements. Learn about the erosion of trust and how it affects beneficiaries. Review the Burgress v Rawnsley case and its implications on trust law.
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