a thesis - Institute of Advanced Legal Studies

54 EXPRESS TRUSTS.
thing which, according to the nature of the property comprised in
the settlement, was necessary to be done in order to transfer the
property and render the settlement binding upon him. He may,
of coarse, do this by actually transferring the property to persons
for whom he intends to provide, and the provision will then be
effectual, and it will be equally effectual if he transfers the property
to a trustee for the purposes of the settlement or declares that he
himself holds it in trust for these purposes."
It appears moreover, from the case of Tierney v. Wood (1854,
19 Beav. 330), that there is another method not mentioned by the
Lord Justice, viz.: that where the legal estate in the trust property
is outstanding, it is sufficient if the settlor directs the trustee
to hold the property for the benefit of the ccstui que trust.
These three methods of perfecting a voluntary trust are
illustrated as follows:—
Illustrations.
Where the Settlor has Transferred the Trust Property to the Trustee.
1. A. by voluntary deed conveys property in trust for himself
(A.) for life, and after his death to pay thereout various
annuities and, subject thereto, in trust for sale and division of the
proceeds among his children, with power of revocation by deed
attested by two or more credible witnesses. This creates a binding
trust, and it is not revoked by a reconveyance of the property by
B. to A. by deed not attested by two witnesses, nor by A.'s will.
Ellison v. Ettison (1802), 6 Ves. 656.
2. A., being of improvident habits and being in prison for
debt, executes a voluntary settlement by which he assigns to B. all
his interest in the property of his late brother upon certain trusts
for the benefit of A. during his life and after his death for his
children, with trusts over. A. marries and has a child. He cannot
get the deed set aside on the ground that it is voluntary. Petre v.
Espinasse (1834), 2 My. & K. 496.
3. A., a single woman not immediately contemplating marriage,
transfers a sum of stock to which she is absolutely entitled to
trustees upon trust to pay the dividends to her until marriage, and
after marriage upon the usual trusts of a marriage settlement. This
is an irrevocable trust, and A. cannot have the deed set aside on