TRUST PROPERTY: A LEGAL LINK BETWEEN TRUST PROPERTY AND TRUSTEE UNDER THE NIGERIAN LEGAL SYSTEM
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Department of Law
RUST PROPERTY: A LEGAL LINK BETWEEN TRUST PROPERTY AND TRUSTEE UNDER THE NIGERIAN LEGAL SYSTEM
ABSTRACT
According to the Blacks law dictionary, 6th edition trust property is defined as any money or property set aside as a trust for the benefit of another and held by a trustee. The trustee is the person vested with the right to hold property in trust on behalf of another called the beneficiary.
The essence of trust relationship is to enable a testator/ settlor who own a legal estate to be able to cater for his immediate family members or his dependants after his demise.
For a trust relationship to be properly constituted, the trust property must be vested in the trustee. The legal link between the trustee and the trust property is the act of vesting the trust property in the trustee. Where this has been properly done, the trustee will be able to deal with the trust property accordingly.
A beneficiary can only lay claim to a trust property that has been properly vested in the trustee. Hence the necessity of examining the legal link between the trust property and the trustee under the Nigerian legal system is sine qua non in order to be able to establish the scope of the operation of trustees in administering trust property under a trust relationship
ABSTRACT
TABLE OF CONTENTS
TABLE OF CASES
TABLE OF STATUTES
LISTS OF ABBREVIATIONS
CHAPTER 1
GENERAL INTRODUCTION
100: INTRODUCTION
110: BACKGROUND TO THE STUDY
120: OBJECTIVES OF THE STUDY
130: FOCUS OF THE STUDY
140: SCOPE OF THE STUDY
150: METHODOLOGY
160: LITERATURE REVIEW
170: DEFINITION OF TERMS (IF ANY)
180: CONCLUSION
CHAPTER 2
CONCEPT OF TRUST UNDER THE NIGERIAN LEGAL SYSTEM
200: INTRODUCTION
210: HISTORICAL EVOLUTION OF THE CONCEPT OF TRUST
220: TRUST AND OTHER LEGAL RELATIONSHIPS
221: TRUST AND AGENCY
222: TRUST AND BAILMENT
223: TRUST AND CONTRACT
224: TRUST AND POWER OF APPOINTMENT
230: COMPLETELY AND INCOMPLETELY CONSTITUTED TRUST
240: CREATION OF TRUSTS
2410: CAPACITY TO CREATE A TRUST
2411: INFANTS AND MINORS
2412: PERSONS SUFFERING FROM MENTAL INCAPACITY
2413: MARRIED WOMEN
24 14: CORPORATE BODIES
2420: FORMALITIES FOR CREATION OF TRUST
2421: INTERVIVOS TRUST
2422: TRUST CREATED BY WILL
250: ESSENTIALS OF TRUSTS
2510: CERTAINTY OF INTENTION
2511: EFFECT O F UNCERTAINTY OF INTENTION
2520: CERTAINTY OF SUBJECT MATTER
2521: EFFECT OF UNCERTAINTY OF SUBJECT MATTER
2530: CERTAINTY OF OBJECT
2531: EFFECT OF UNCERTAINTY OF OBJEC
260: CONCLUSION
CHAPTER 3
CONCEPT OF TRUSTEE AND TRUST PROPERTY UNDER THE NIGERIAN LEGAL SYSTEM
300: CONCEPT OF TRUSTEE UNDER THE NIGERIAN LEGAL SYSTEM
310: INTRODUCTION
320: CAPACITY TO ACT AS TRUSTEES
321: INFANTS
322: CESTUI QUE TRUST
323: CORPORATIONS
324: PUBLIC TRUSTEES
325: SOLICITOR TO THE TRUST/TRUSTEE
330: NUMBER OF TRUSTEES TO BE APPOINTED
340: TERMINATION OF TRUSTEESHIP
341: DISCLAIMER
342: RETIREMENT
343: REMOVAL
344: DEATH
350: CONCEPT OF TRUST PROPERTY
350: INTRODUCTION
371: WHAT PROPERTY MAY BE HELD ON TRUST
3720: TRACING OF TRUST PROPERTY
3721: TRACING AT COMMON LAW
3722: TRACING IN EQUITY
380: CONCLUSION
CHAPTER 4
THE LEGAL LINK BETWEEN TRUST PROPERTY AND TRUSTEE UNDER THE NIGERIAN LEGAL SYSTEM
400: INTRODUCTION
410 VESTING OF TRUST PROPERTY IN THE TRUSTEE
420: MANAGEMENT OF TRUSTS PROPERTY BY THE TRUSTEE
430: DUTIES OF TRUSTEE OVER TRUSTS PROPERTY
431: GENERAL DUTIES OF A TRUSTEE OVER TRUSTS PROPERTY
432: FIDUCIARY DUTIES OF A TRUSTEE OVER TRUSTS PROPERTY
440: POWERS OF A TRUSTEE OVER THE TRUSTS PROPERTY
450: CONCLUSION
CHAPTER 5
GENERAL CONCLUSION
500: CONCLUSION
510: RECOMMENDATION
BIBLIOGRAPHY
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