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No trust could be inferred, but the encouragement to improve the house in the belief it was hers created a proprietary estoppel. A mere licence can be defeated by a sale of the house, so to comply with equity the legal owner, her ex-cohabitee was ordered to execute a conveyance. [1]
It so happens that in many of these cases of proprietary estoppel there has been expenditure of money. But that is not a necessary element. I see that in Snell's Principles of Equity, 27th ed. (1973), p. 565, it is said: “A must have incurred expenditure or otherwise have prejudiced himself.” But I do not think that that is necessary.
Proprietary estoppel is a legal claim, especially connected to English land law, which may arise in relation to rights to use the property of the owner, and may even be effective in connection with disputed transfers of ownership. Proprietary estoppel transfers rights if someone is given a clear assurance that they will acquire a right over ...
Carnwath J approved the "floating trust" analogy, first proposed by Dixon J in Birmingham v Renfrew [1937] CLR, which holds that the law will give effect to the intention (to create a mutually binding will) by imposing a floating trust which becomes irrevocable after the death of the first testator and crystallises after the death of the survivor.
Accordingly, they argue, even if David would otherwise make good his proprietary estoppel claim, it must fail because the property the subject of the alleged estoppel in this case is not certain enough. 91. So far as the relevant facts of this case are concerned, the extent of the land owned and farmed by Peter varied.
Federal estate taxes are due for any amount above the current exemption, which in 2022 is $12.06 million for individuals and $24.12 million for married couples. Irrevocable Trust Pros and Cons
So with proprietary estoppel the defendant is charged with satisfying the equity which has arisen from the whole sequence of events. But the parallel is only faint since in the case of estoppel there is no contract and the nexus between the benefactor's assurances and the resulting equity is less direct; the assurances are only half the story.
Some married couples are better off filing separately in 2022 because they can actually get a larger benefit in doing so, according to a tax expert.