In re Yates v [1994] JLR 221 (16 June 1994)
- Citation
- [1994] JLR 221
- Status
- Judgment
- Jurisdiction
- Jersey
- Posture
- Trusts / Application for Court Sanction of Mortgage of Trust Property
More details
- Posture
- Trusts / Application for Court Sanction of Mortgage of Trust Property
On this page
Professional case brief
Research organized from the available case record
01
Holding and result
The court may permit the mortgage of trust property to a trustee if it is in the best interest of the trust, justified by the circumstances, and no other source of funds is available, even if a conflict of interest may arise.
Court disposition
application granted
Orders
- Trust property may be mortgaged to the trustee as sanctioned by the court.
02
Material facts
Parties
Yates
Applicant03
Procedural history
Posture
Trusts / Application for Court Sanction of Mortgage of Trust Property
04
Questions and positions
Legal issues
Whether the court may sanction the mortgage of trust property to a trustee in circumstances where speed is essential and no other source of funds is available
Party arguments
- Applicant
- The mortgage of trust property to a trustee is necessary, justified by the particular circumstances, and in the best interest of the trust due to the need for speed and lack of alternative funding.
- Respondent
- Potential conflict of interest exists in mortgaging trust property to a trustee.
05
Court’s reasoning
Legal principles
- 01
[1994] JLR 221
The court may sanction the mortgage of trust property if it is in the best interest of the trust and justified by the particular circumstances of the case.
- 02
[1994] JLR 221
Trust property may be mortgaged to a trustee, notwithstanding possible conflict of interest, if speed is essential and no other source of funds is available.
06
Ratio, limits and disposition
Ratio decidendi
The court may permit the mortgage of trust property to a trustee if it is in the best interest of the trust, justified by the circumstances, and no other source of funds is available, even if a conflict of interest may arise.
Court disposition
application granted
- Trust property may be mortgaged to the trustee as sanctioned by the court.
Source and reliance status
Official court record
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Judgment text
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Court record
Judgment
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BAILII >> Databases >> Jersey Law Reports >> In re Yates v [1994] JLR 221 (16 June 1994) URL: https://www.bailii.org/je/cases/JLR/1994/JLR940221.html Cite as: [1994] JLR 221 [ New search ] [ Help ] In re Yates v 1994 JLR 221 (16 June 1994) Trusts - powers and duties of trustees - mortgage of trust property - court may sanction mortgage if in best interest of trust and justified by particular circumstances of case-trust property may be mortgaged to trustee, notwithstanding possible conflict of interest, if speed essential and no other source of funds The document you wish to view is available to registered users or can be purchased as a PDF. To purchase this document in PDF format or alternatively to Register to purchase membership go to the Jersey Law website via this link: 1994 JLR 221 BAILII: Copyright Policy | Disclaimers | Privacy Policy | Feedback | Donate to BAILII URL: https://www.bailii.org/je/cases/JLR/1994/JLR940221.html
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