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CONSTRUCTIVE TRUSTS IS NOT BASED ON THE PRIOR INTENTION OF THE PARTIES

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In Kotoye v Saraki (1992) NWLR (Pt. 264) 156, (1992) 11/12 SCNJ 26, this Court held that constructive trust, as in this case, imposed by equity on the ground of conscience and is not based on the prior presumed intention of the parties. See Ughtevbe v Shonowo (supra); Ibekwe v Nwosu (2011) 9 NWLR (Pt. 1251) 1 at 5 Paragraphs A-C.

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CERTAINTIES IN A TRUST

I do agree the test for express trust is the existence of the three certainties set out by Chief Fagbohungbe, that is when a trust is created intentionally by the act of the settlor. There is also implied trust. This is where the legal title to property is in one person and the equitable right...

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WHAT IS A RESULTING TRUST

Now, what is resulting trust? An implied trust or resulting trust is a trust founded upon the unexpressed intention of the settlor. One example of such a situation is where a purchased property is conveyed into the name of someone other than the purchaser or where, as in this case, a person applies for leasehold...

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CONSTRUCTIVE TRUSTS IS AN EQUITABLE REMEDY IMPOSED – NOT BASED ON PRIOR INTENTION

On the other hand, a constructive trust is an equitable remedy that a court imposes against one who has obtained property by wrong doing. It is imposed to prevent unjust enrichment and creates no fiduciary relationship. It is also termed implied trust, involuntary trust, trust ex delicto; trust ex maleficio, remedial trust, trust in invitum;...

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TYPES OF TRUST – WHERE IMPLIED TRUST WILL ARISE

To this end, there are Express Trusts, Implied or Resulting Trusts and Constructive Trusts. Express Trusts arise when the owner declares himself a trustee of the property for the benefit of another person or vests property in another person as trustee for the benefit of another person. Implied or Resulting Trust arise from the presumed...

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STATE LANDS ARE FOR PUBLIC PURPOSES – SUCH LANDS ARE HELD IN TRUST

Their powers under the law are limited to leasing them to diverse persons, and accepting forfeitures and surrenders of leases. There appears to be substance in this contention. State lands in Nigeria invariably originate from compulsory acquisitions of such lands from individuals or communities for public purposes. Such lands are held in trust by the...

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THE THREE ELEMENTS OF A TRUST

Trust involves three elements, namely:- 1. A trustee, who holds the trust property and is subject to equitable duties to deal with it for the benefit of another. 2. A beneficiary to whom the trustee owes equitable duties to deal with the trust property for his benefit. 3 Trust property, which is held by the...

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