LLAW2313 Property, Equity and Trusts

This topic introduces students to fundamentals of property law and Australian equity and trusts law. It considers how something becomes property and examines the justifications for private property. It then deals with concepts of personal property including possession, relativity of title and priority of legal property rights. Students will learn about shared property rights, and the significance of proprietary interests as distinct from other types of interests. Students will learn about the history and nature of equity and equitable remedies before moving on to learn about the nature, function and types of trusts. It will cover the rules for creation, validity and operation of different types of trusts, as well as obligations of trustees, fiduciaries and the rights and remedies of beneficiaries.

The topic also explores the law regulating transfers or assignments of proprietary interests in the context of completing of formalities required to create an express trust.

This topic aims to:

• Introduce students to fundamental notions of the law of property, equity and trusts in Australia and ensure that they develop a secure and confident understanding of these fundamentals
• Give students an understanding of selected ways in which rights in legal and equitable property are created, acquired and transferred
• Introduce students to the nature, operation and significance of the institution of the trust as the most important institution in equity
• Develop a sophisticated appreciation of the interplay of concepts across the doctrinal boundaries in the common law, equity and statute in this area of law
• Develop students' skills in legal research, in reading and analysing case law, and developing written and oral legal arguments, and working independently

1. Identify interests which can exist in property in Australian law and distinguish them from other interests known to Australian law
2. Correctly identify and explain the legal issues and correctly apply the associated legal rules that arise from sets of facts which concern various property rights and liabilities, and the creation and transfer of selected legal and equitable interests in property under Australian law
3. Correctly identify and explain the legal issues and correctly apply the associated legal rules that arise from sets of facts which concern the creation, regulation and enforcement of rights and obligations inherent in express trusts, resulting trusts, selected constructive trusts and certain fiduciary relationships
4. Work independently to locate and effectively utilise primary sources of law and the products of legal research and scholarship
5. Communicate his/her explanations and analyses coherently and persuasively in accordance with accepted norms of legal reasoning and presentation practice