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Constructive trusts in English law
Constructive trusts in English law are a form of trust created by the courts primarily where the defendant has dealt with property in an "unconscionable manner", but also in other circumstances; the property will be held in "constructive trust" for the harmed party, obliging the defendant to look after it. The main categories of factors giving rise to a constructive trust are unconscionable dealings with property, profits from unlawful acts, and unauthorised profits by a fiduciary. Where the owner of property deals with it in a way as to deny or impede the rights of some other person over that property, the courts will order that owner to hold it in constructive trust. Where profits are made from unlawful acts, such as murder, fraud, or bribery, these profits will also be held in constructive trust. The most common of these is bribery, which requires that the person be in a fiduciary office. Certain offices, such as those of trustee and company director, are always fiduciary offices; the courts may choose to recognise others where the circumstances demand it. Where someone in a fiduciary office makes profits from their duties without the authorisation of that office's beneficiaries, a constructive trust may be imposed on those profits; there is a defence where the beneficiaries have authorised such profits. The justification here is that a person in such an office must avoid conflicts of interest, and be held to account should he fail to do so.
Other types of constructive trust not relating to unconscionable dealings are constructive trusts over property, mutual wills, and arguably secret trusts. Where property is sold or transferred, the signing of an agreement to do so automatically transfers the equitable interest to the buyer or transferee; until the property itself is transferred, it is deemed to be held on constructive trust for the recipient. Mutual wills are irrevocable wills made by multiple people to come into force at the writer's death; similarly, these are also considered constructive trusts. Secret trusts are the subject of much debate over their classification, but one theory holds them to be constructive in nature. Related to constructive trusts are constructive trustees, or trustees ''de son tort''; these are where "one, not being a trustee and not having authority from a trustee, takes upon himself to intermeddle with trust matters or to do acts characteristic of the office of trustee". Where their actions are reckless or dishonest, the court makes that person a constructive trustee, forcing them to account to the beneficiaries for any loss suffered and look after the trust property in their possession.
==Definition==
A constructive trust is a trust which is imposed by the courts whenever the defendant knows that he has dealt with property in an "unconscionable manner", such as stealing it, possessing it via fraud, and accepting a bribe while in occupation of a fiduciary office. The constructive trust is intended to take the property from the defendant's control, preventing them from causing additional harm with it. It thus acts regardless of the parties' intentions. In ''Paragon Finance plc v DB Thakerar & Co'', Millet LJ defined a constructive trust as a trust which "arises by operation of law whenever the circumstances are such that it would be unconscionable for the owner of property (usually but not necessarily the legal estate) to assert his own beneficial interest in the property and deny the beneficial interest of another". Essentially, a constructive trust will arise whenever an owner either ignores, or interferes, with the rights of another person with an interest in that property. There is a distinction between personal and proprietary rights to property. A constructive trust normally gives a proprietary right to the beneficiary that can be enforced on any other person. The alternative (a personal right) merely gives the beneficiary the right to recover money equivalent to the value of the property.
Constructive trusts, under Section 53(2) of the Law of Property Act 1925, do not require any particular formalities on creation, unlike express trusts. For them to be valid, however, the defendant (or "trustee" of the constructive trust) must know that he has dealt with property in an "unconscionable manner". In ''Westdeutsche Landesbank v Islington London Borough Council'', Lord Browne-Wilkinson wrote that "Since the equitable jurisdiction to enforce trusts depends upon the conscience of the holder of the legal interest being affected, he cannot be a trustee of the property if and so long as he is ignorant of the facts alleged to affect his conscience".
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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