Property includes legal rights to assets. However, the ownership allows others to have rights to for example exclude others from a property they own. They can also transfer their assets through buying and selling. This can be used to determine a beneficial owner in property disputes where it is between the legal owner and a second party claiming equitable interests.
What is a resulting trust?
A resulting trust presumes the beneficial interest of both parties in a land dispute in proportion to their financial contributions. Each individual is assumed to have wanted a financial gain to arise from their own contributions of cash.
In the case of Stack v Dowden [2007], it can be seen it is decided that Mr Stack is awarded 35% of proceeds and Ms Dowden 65%. This is due to the level of their financial contributions paid towards the house. Unlike the case of Kernott v Jones [2010], where the house was bought under both parties’ names however, Mr jones left the property 8 years into living there and made no financial contribution after, leaving Ms jones to do and pay for everything including the mortgage. All contributing factors resulted in 90% of proceeds going to Ms Jones and 10% going to Mr Jones.
