Bare trusts: introduction: examples
In England and Wales the most common kind of bare trust is where two or more persons `jointly’ own land. In this situation Section 34 Law of Property Act 1925 requires the legal title to the land to be held by trustees. In the case of the family home the strict analysis is generally that A and Mrs A legally own the land as trustees for themselves. In the case of a partnership up to four of the partners may hold the partnership land for the partners as a whole. See CG70500+ for an explanation of tenancies in common and joint tenancies, the two kinds of `joint ownership’ in English law. In Scotland and Ireland there is no need to use trusts for `joint ownership’, although they may be used.