They must give effect to the wishes

They must give effect to the wishes of the beneficiaries, or of the majority of them, so far as consistent with the general interests of the trust. However, a purchaser is not concerned to see that the trustees have complied, so a sale without the beneficiaries having been consulted, or in defiance of their wishes, is valid12[52] . . .
PART III NEED FOR REFORM
Change of circumstances
3.1. The 1925 legislation compromise between the need to protect beneficiaries under trusts of land and the demand for certainty and simplicity in conveyancing was satisfactory, and perhaps ideal, in the circumstances in which it was intended to operate. A purchaser from trustees could ignore the beneficial interests so long as he was careful to observe simple precautions in paying the price. This successfully hid the terms of the settlement ‘behind the curtain’. Buying from trustees became as simple as buying from a single beneficial legal owner which it certainly had not been previously. At the same time, the financial interest of the beneficiary was safeguarded by transfer- ring his claim to the proceeds of sale. So long as the trustees properly conducted the affairs of the settlement, it was not important to the beneficiary by what assets his interest was secured.
3.2. Doubts about these provisions arise now because, over the years, the patterns of land ownership and the use of settlements have changed. Although the rules with which we are concerned affect all types of real property, the changes relating to residential property are most significant. Since 1925, both the number of dwellings in England and Wales and the percentage of them which are owner-occupied have jumped dramatically.13[3] Couples have increasingly bought owner-occupied housing in their joint names, and this trend was accelerated by the decision in Williams & Glyn’s Bank Ltd v. Boland [1981] AC 487 following which lending institutions encour- aged borrowers to buy jointly so that they, the institutions, had the advantage of the statutory overreaching rules. These couples are technically trustees for sale, whether they hold on trust only for themselves, as is often the case, or whether there are others with beneficial interests.
3.3. For this reason, there is now a very large number of cases in which trust beneficiaries occupy trust property as their homes. Sometimes, also, the trust property is where they carry on business. Generally, the trust is a conveyancing technicality, imposed by the Law of Property Act 1925 as part of the scheme to confine normal conveyancing to legal estates. Most individuals in this position would be surprised to hear themselves referred to as trustees or as beneficiaries; they regard themselves
12 Law of Property Act 1925, section 26(3).
13 Statistics are not available for 1926 (the year in which the 1925 legislation came into effect). In
1931, there were 9.4 m dwellings in England and Wales (source: Census of England and Wales 1931), compared with 20.35 m in 1988 (source: Housing and Construction Statistics). The proportion of dwellings which were owner-occupied was 11.24 per cent in 1914, 32.46 per cent in 1938 and 67.19 per cent in 1988 (source: Department of the Environment). There are therefore about 6.5 times as many owner-occupied dwellings now as there were when the 1925 legislation came into force.

Kết quả (Anh) 1:

They must give effect to the wishes of the beneficiaries, or of the majority of them, so far as consistent with the general interests of the trust. However, a purchaser is not concerned to see that the trustees have complied, so a sale without the beneficiaries having been retrieved, or in defiance of their wishes, is valid12 [52] ...PART III NEED FOR REFORMChange of circumstances3.1. The 1925 legislation compromise between the need to protect beneficiaries under trusts of land and the demand for certainty and simplicity in conveyancing was satisfactory, and perhaps ideal, in the circumstances in which it was intended to operate. A purchaser from trustees could ignore the beneficial interests so long as he was careful to observe simple precautions in paying the price. This successfully hid the terms of the settlement ' behind the curtain '. Buying from trustees became as simple as buying from a single legal beneficial owner which it certainly had not been previously. At the same time, the financial interest of the beneficiary was safeguarded by transfer-ring his claim to the proceeds of sale. So long as the trustees properly conducted the affairs of the settlement, it was not important to the beneficiary by what assets his interest was secured.3.2. provisions about these Doubts arise now because, over the years, the patterns of land ownership and the use of settlements have changed. Although the rules with which we are concerned affect all types of real property, the changes relating to residential property are most significant. Since 1925, both the number of dwellings in England and Wales and the percentage of them which are owner-occupied have jumped dramatically. 13 [3] Couples have increasingly bought owner-occupied housing in their joint names, and this trend was accelerated by the decision in Williams & Glyn's Bank Ltd. v. Boland, [1981] A.C. 487 following which lending institutions encour-aged borrowers to buy jointly so that they , the institutions, had the advantage of the statutory overreaching rules. These couples are technically trustees for sale, whether they hold on trust only for themselves, as is often the case, or whether there are others with beneficial interests.3.3. For this reason, there is now a very large number of cases in which trust beneficiaries occupy trust property as their homes. Sometimes, also, the trust property is where they carry on business. Generally, the trust is a conveyancing technicality, imposed by the Law of Property Act 1925 as part of the scheme to confine normal conveyancing to legal estates. Most individuals in this position would be surprised to hear themselves referred to as trustees or as beneficiaries; they regard themselves12 Law of Property Act 1925, section 26 (3).13 Statistics are not available for 1926 (the year in which the 1925 legislation came into effect). Print1931, there were 9.4 m dwellings in England and Wales (source: Census of England and Wales, 1931), compared with 20.35 meters in 1988 (source: Housing and Construction Statistics). The proportion of dwellings which were owner-occupied was 11.24 per cent in 1914, 32.46 per cent in 1938 and 67.19 per cent in 1988 (source: Department of the Environment). There are therefore about 6.5 times as many owner-occupied dwellings now as there were when the 1925 legislation came into force.

Kết quả (Anh) 2:

They give effect to the wishes phải of the beneficiaries, or of the Majority of added, compared with the general far as Consistent Interests of the trust. Tuy nhiên, a Purchaser is not Concerned to see trustees have complied rằng, considering a sale without the beneficiaries having consulted được, or print Defiance of chúng wishes, is valid12 [52]. . .
PART III NEED FOR Reform
Change of Circumstances
3.1. The 1925 legislation need to compromise giữa protect beneficiaries under trusts of land and the demand for certainty and simplicity print conveyancing was satisfactory, and perhaps' ideal, in the Circumstances chứa it was intended to Operate. A Purchaser from the Beneficial Interests trustees could ignore so long as he was careful to observe simple precautions printed paying the price. This successfully hid the terms of the settlement 'behind the curtain'. Buying from trustees as simple as buying from became a single legal Beneficial owner mà được trước it certainly hda. At the same time, the interest of the Beneficiary Financial was safeguarded by transfer- ring claim to the proceeds of his sale. So long as the trustees đúng Conducted the affairs of the settlement, it was not important to the Beneficiary by what his interest was secured assets.
3.2. Doubts about những Provisions vì Arise now, over the years, the patterns of land and the use of Settlements Ownership have changed. Although the rules mà We Are Concerned with all types of real property hưởng, the changes relating to residential property are the most significant. Since 1925, the cả số England and Wales dwellings print and the percentage of owner-Occupied added mà have jumped dramatically.13 [3] have increasingly Bought Couples owner-Occupied housing trong joint names, and this trend was accelerated by the Williams & Glyn's Decision printing Bank Ltd v. Boland [1981] AC 487 Lending Institutions sau mà Borrowers encour- aged to buy jointly vì chúng, the Institutions, hda the Advantage of the statutory overreaching rules. These couples are Technically trustees for sale, hold on trust nếu chúng only for Themselves, as is often Do the case, or are there others nếu with Beneficial Interests.
3.3. For this reason, there is now a very large number of Cases chứa chiếm trust property trust beneficiaries as ask for their homes. Sometimes, cũng, the trust property is where chúng carry on business. Generally, the trust is a conveyancing technicality, imposed by the Law of Property Act 1925 as part of the scheme to confine normal to legal conveyancing estates. Most in this position would be cá surprised to hear Themselves Referred to as trustees or as beneficiaries; Regard Themselves chúng
12 Law of Property Act 1925, section 26 (3).
13 Statistics are not available for 1926 (the year 1925 legislation chứa Came Into effect). In
1931, There were 9.4 m England and Wales dwellings print (source: Census of England and Wales in 1931), with 20:35 m print sánh 1988 (source: Housing and Construction Statistics). The Proportion of owner-Occupied dwellings mà là là 11:24 per cent print in 1914, 32.46 per cent and 67.19 per cent in 1938 print print 1988 (source: Department of the Environment). There are about 6.5 times as many therefore owner-Occupied dwellings now there là là khi 1925 Came Into force legislation.