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Equitable Accounting

Date:17 APR 2008

Kim Beatson Partner Anthony Gold and Shelley Turrell Trainee Solicitor Anthony Gold.

Your TOLATA (Trusts of Land and Appointment of Trustees Act 1996) proceedings have almost reached conclusion. The judge has considered whether the applicant has acted to his detriment made direct financial contributions whether a constructive or resulting trust applies or perhaps more unusually whether there is any basis for a claim in proprietary estoppel. As a consequence the judge is able to make a declaratory provision regarding the beneficial interest in the disputed property and to consider whether there should be an order for sale. Finally the judge will turn to the exercise of equitable accounting an account or inquiry as to what sums are due to the claimant from the defendant by way of rent or compensation for use and occupation of the premises.

The equitable accounting exercise enables the co-owner who has provided monies towards a property over and above their interest in it to reclaim sums that have been spent post-separation. It has to take place in most cases and will...

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