Trusts : Equal sharing principle applies to all jointly owned assets, says court

Equal sharing of all of a formerly cohabiting couple's jointly owned assets, not just their home, should be the starting point for division of beneficial interests after they split up, the Privy Council has ruled this week.

The decision in Marr v Collie is the first to apply beyond the context of a couple's home, and much reduces the role of the presumption of resulting trust in relation to a couple's assets. The case concerned a dispute in the Bahamas but will likely be followed in other jurisdictions.

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