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In law, an equitable interest is an "interest held by virtue of an equitable title (a title that indicates a beneficial interest in property and that gives the holder the right to acquire formal legal title) or claimed on equitable grounds, such as the interest held by a trust beneficiary". [1]
The Equity Release Council is the UK's equity release industry body that sets standards to protect consumers. Its members commit to following a set of five product standards: fixed or capped interest rates (for lifetime mortgages), the right to remain in the property, the right to move to another property, the ‘no negative equity guarantee ...
A trust fund is a legal entity designed for holding assets, not a specific type of account as is thought in the popular imagination. Because of this, trust funds can be the owner of a variety of ...
The theoretical rate of interest is determined by IRS regulations. [3] The rate is set equal to 120% of the federal mid-term rate during the month that the GRAT is established. To realize a tax benefit, the sum of the scheduled annuity payments of a GRAT is set to be about equal to the principal plus theoretical interest.
The cestui que is the person for whose benefit (use) the trust is created. Any such person is, unless restricted by the trust instrument, fully entitled to the equitable interests such as annual rents/produce/interest, as opposed to the legal ones such as any capital gain, of the property forming the trust assets. [1]
Because an interest under a trust is a species of property, adult beneficiaries of sound mind are able to deal with their rights under the trust fund as they could with any other species of property. They can sell it, assign it, exchange it, release it, [4] mortgage it, and do most other things that they could do with a chose in action.
A Quistclose trust is a method by which a creditor can hold a security interest in loans, through inserting a clause into the contract which limits the purposes for which the borrower can use the money. If the funds are used for a different purpose, a trust is created around the money for the benefit of the moneylender.
The creation of express trusts in English law must involve four elements for the trust to be valid: capacity, certainty, constitution and formality. Capacity refers to the settlor's ability to create a trust in the first place; generally speaking, anyone capable of holding property can create a trust.