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In common law jurisdictions, a resulting trust is an equitable creation, rather than a common law concept. Consequently, equitable defenses like laches, unclean hands, and the duty to do equity may be recognized in some jurisdictions. For instance, if a transferor conveys property for an unlawful purpose and benefits from it, a court might rule ...
Tax planning: Property owners may transfer equity to their children or other family members to manage their tax liabilities. Transferring equity can be complex, involving land registry applications and stamp duty land tax forms. In these circumstances, a transfer of equity usually involves a conveyancing practitioner to deal with the formalities.
In trust law, a constructive trust is an equitable remedy imposed by a court to benefit a party that has been wrongfully deprived of its rights due to either a person obtaining or holding a legal property right which they should not possess due to unjust enrichment or interference, or due to a breach of fiduciary duty, which is intercausative with unjust enrichment and/or property interference.
Most home sellers don’t have to report the transaction to the IRS. But if you’re one of the exceptions, knowing the rules will help you with your tax bill. Tax aspects of home ownership ...
Equitable conversion is a doctrine of the law of real property under which a purchaser of real property becomes the equitable owner of title to the property at the time he/she signs a contract binding him/her to purchase the land at a later date.
The transfer of equitable interests must be performed in writing by the owner or their agent. A gift is assumed when property owner deeds real estate as joint tenants with rights of survivorship. Regardless of contribution to purchase price, such a deed guarantees each tenant equal shares upon sale or partition of the property.
Tax collection was a public purpose, the justices found, adding other case law would bar purely private takings. “If a lienholder or anyone else therefore took surplus equity in property for a ...
Private transfer fee covenants, like similar covenants and restrictions attached to real property, generally provide for legal and equitable remedies, including foreclosure of a lien and a claim against the owner, who, in taking title to the real estate, takes title "subject to" all claims and assessments.