Transfer of Choses in Action on Trust

Abstract This chapter explores the transfer of choses in action on trust, clarifying the differences between equitable assignments and trusts. It outlines how a trust can be constituted either by the settlor's declaration or by transferring property to a trustee, addressing the necessary requirements for each method. The chapter emphasizes the settlor’s intention to transfer the chose and to ensure it is held on trust. It also covers the certainty required for the trust property, beneficiaries, and trustee, as well as the necessary formalities. Finally, the chapter concludes by examining variations like directions to trustees and the creation of sub-trusts, illustrating the flexibility of trusts compared to assignments.