Drakeford v Bromhead [2003] NSWSC 296

Drakeford v Bromhead [2003] NSWSC 296

The plaintiff provided the entire purchase price for the property and did not intend to make a gift of beneficial ownership to Mrs Bromhead; the presumption of resulting trust was not rebutted. The $25,000 was provided for a specific purpose, and as that purpose failed, the money was held on resulting trust for the plaintiff.

Jurisdiction
Australia
Judgment Date
15 April 2003
Procedural Posture
Equity Proceeding / Judgment After Contested Hearing
Outcome
Declaratory relief granted for resulting trust in favour of the plaintiff as to both the Stewart Street property and the $25,000; agreed short minutes of orders to be filed, hearing on costs to be fixed.
Legal Topics
['resulting Trusts' 'beneficial Ownership' 'quistclose Trusts']
['equity' 'trusts'] ['resulting Trusts' 'beneficial Ownership' 'quistclose Trusts']

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Procedural Posture

Equity Proceeding / Judgment After Contested Hearing

Legal Issues

  1. 1 ['Whether a resulting trust exists over real property purchased in the name of one sister with money provided by another' 'Whether beneficial ownership was intended to be given to the registered proprietor to rebut the presumption of resulting trust' 'Whether a sum of money paid to a sister for a specific purpose and held in a bank account was held on resulting trust on failure of that purpose']

Ratio Decidendi

The plaintiff provided the entire purchase price for the property and did not intend to make a gift of beneficial ownership to Mrs Bromhead; the presumption of resulting trust was not rebutted. The $25,000 was provided for a specific purpose, and as that purpose failed, the money was held on resulting trust for the plaintiff.

Court Disposition

Declaratory relief granted for resulting trust in favour of the plaintiff as to both the Stewart Street property and the $25,000; agreed short minutes of orders to be filed, hearing on costs to be fixed.

Orders

  • ['Declaration of resulting trust in favour of the plaintiff over the Stewart Street property' 'Declaration of resulting trust in favour of the plaintiff over the sum of $25,000' 'Short minutes of orders to be brought in within 14 days' 'Parties to be heard on the question of costs at a later date']