* not completed

. Which one of the following statements is FALSE?

Strict settlements created pre TLATA 1996 can continue to exist post TLATA and are governed by the SLA 1925. correct incorrect

The creation of new strict settlements post TLATA 1996 is possible but such settlements will be governed by TLATA 1996. correct incorrect

Pre TLATA 1996, the creation of concurrent interests existed behind a trust for sale governed by the LPA 1925. correct incorrect

Post TLATA 1996, the creation of concurrent interests will generally exist behind a trust of land governed by TLATA 1996. correct incorrect

* not completed

. Which one of the following is a key feature of a trust for sale?

Trustees have a duty to purchase correct incorrect

Trustees have a power to sell correct incorrect

Trustees have a duty to sell correct incorrect

Trustees have a power to purchase correct incorrect

* not completed

. Which one of the following statements is TRUE?

Since TLATA 1996, it is no longer possible to create new express trusts for sale. correct incorrect

Trusts for sale impliedly created pre TLATA 1996 were converted into trusts of land on 1 January 1997. correct incorrect

Trusts for sale expressly created pre TLATA 1996 were converted into trusts of land on 1 January 1997. correct incorrect

The doctrine of conversion still applies to any new express trusts for sale created post TLATA 1996. correct incorrect

* not completed

. Which one of the following statements is TRUE?

The creation of any type of trust must be done by deed. correct incorrect

The creation of an express trust must comply with s53(1)(c) LPA 1925. correct incorrect

Trusts of land may be express or implied. There are two types of implied trust: resulting and imputed. correct incorrect

The creation of an implied trust need not be manifested in writing to be valid. correct incorrect

* not completed

. Which one of the following statements is FALSE in respect of a trust of land?

Trustees can only be appointed by a person who has been specifically named as having the power to appoint. correct incorrect

A trustee may also be a beneficiary under the trust. correct incorrect

The appointment of a new trustee should be done by deed. correct incorrect

The maximum number of trustees can never exceed four. correct incorrect

* not completed

. Which one of following statements is TRUE is respect of a trust of land?

A trustee may retire from his position whenever he so wishes. correct incorrect

Where a trustee who is also a beneficiary under the trust retires his equitable interest in the property will automatically vest in the remaining trustees. correct incorrect

Beneficiaries of the trust can, in certain circumstances, require a trustee to retire. correct incorrect

Retirement of a trustee should be completed in a valid contract. correct incorrect

* not completed

. Which one of the following statements is TRUE in respect of a trust of land?

The starting position that trustees have 'all powers of an absolute owner' can be curtailed by express provision in the disposition creating the trust of land. correct incorrect

When exercising their powers, trustees have a duty to act responsibly, assessed in accordance with objective standards. correct incorrect

In exercising their powers, trustees should consult the beneficiaries and must give effect to their wishes and, where dispute exists, the wishes of the majority in value. correct incorrect

In exercising their powers, trustees must obtain the consent of the beneficiaries and, where a dispute exists, the consent of the majority in value. correct incorrect

* not completed

. Which one of the following statements is FALSE in respect of a trust of land?

A beneficiary who is also a legal owner of the trust property, has a right to occupy the trust property. correct incorrect

Trustees have powers to exclude or restrict the right of one or more of the beneficiaries to occupy the trust land, but in exercising such powers, they must not exclude all beneficiaries from occupation. correct incorrect

When exercising powers to restrict or exclude one or more of the beneficiaries from occupying trust land, and trustees cannot reach a unanimous decision, the decision of the majority will be applied. correct incorrect

A beneficiary already in occupation of the trust land should not be removed by a trustee without either his consent or court approval. correct incorrect

* not completed

. Under which statutory provision may a purchaser of unregistered land take free from any beneficial interests under a trust, even where trustees have exceeded their powers to sell?

Section 26 LRA 2002 correct incorrect

Section 16 TLATA 1996 correct incorrect

Section 53 LPA 1925 correct incorrect

Section 11 TLATA 1996 correct incorrect

* not completed

. Under a trust of land, a dispute between co-owners as to whether the trust property should be sold or not is dealt with under which statutory section?

Section 30 LPA 1925 correct incorrect

Section 14 TLATA 1996 correct incorrect

Section 12 TLATA 1996 correct incorrect

Section 14 LPA 1925 correct incorrect