LAWS605-Trusts Law & Norman Case Study – Law Assignment Help

Assignment Task

Task 

Written Assignment Instructions
1. In this written assignment students will be expected to demonstrate evidence ofindependent research as well as analytical and evaluative skills.
2. Where applicable, your answer should be supported by relevant case law and relevant statutory provisions such as the Trusts Act 2019 or the Property Law Act 2007.

Written Assignment Question
Norman, a successful lawyer, was forced to retire early due to ill health. He decided to settlehis affairs and give away some of his wealth.
Norman owned some shares in an investment company called Afterguard Investments Limited (Afterguard). He asked his goodfriend, Lemalu, if he would agree to hold half of his Afterguard shares on trust for one of Norman’s three nieces. Lemalu agreed and Norman filled out andsigned the share transfer form. He then sent it to his solicitor, Ethel, who held the relevantpaper share certificates and instructed Ethel to arrange transfer of the legal title to the shares to Lemalu.
Norman owned threeidentical commercial properties in West Auckland, situated side by side on Lincoln Road. These were leased to variouscommercial tenantsand brought in a substantial income every year. He told his cousin Tiana, that he wanted her ten-year-old daughter, Kati, to have the benefit of one of thethree propertiesadding that the property had recently been valued at $5 million. He told Tiana that hewanted her to be trustee of the property. Tiana and Kati were delighted. Norman phoned and left a message with Ethel’s receptionist saying simply that one of his three West Auckland commercial properties should be transferred to Tiana.

Sadly, Norman died in his sleep. At the time of his death:
1. Ethel had couriered the duly completed stock transfer form and share certificates to Lemalu, but he had not yet sent them to Afterguard, andtherefore, the transfer had not yet been registered in the company’s books, and
2. Legal title to all three of the commercial properties in West Aucklandwas still in Norman’s name.
In his will, which is validly executed, Norman appointed his brother Myron as his executor and left everythinghe owned to his partner, Jean.

REQUIRED
Advise the executor Myron as to whether entitlement to Norman’s property can or cannot be established in respect to Lemalu under a valid trust(shares) and Tiana under a valid trust (commercial property in West Auckland). If such entitlement cannot be established, then advise as to who would then receive the property. 

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