英上磨_0412

If a settlor, Simon，transfers property to trustee 1 and trustee 2 (Tim and Tom) to hold on trust for Ben. the legal ownership of the property is vested in Tim and Tom and the equitable ownership is vested in Ben[2]. It will be recalled that this division of ownership was the invention of equity and is the basis of the trust. Tim and Tom hold the property not for their own benefit but for the benefit of Ben. Tim and Tom's technical, legal，ownership brings only burdens and responsibilities which make their position very onerous. The duties and responsibilities of Tim andTom will be imposed by the settlor and by the general law of trusts.The beneficial ownership which rests with Ben brings with it, as the name suggests, The positive advantages of ownership. Any income which the trust property generates will belong to Ben. Any profit made from the trust property will accrue for the advantage of Ben.
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Any income which the trust property generates will belong to Ben. Any profit made from the truslproperty will accrue for the advantage of Ben。
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