What kind of property can be trust property?

• Trusts were historically limited to land but now all types of property can form part of the trust assets.
• Certain types of property are subject to legal rules about how they must be transferred from one person to another such as in the case of land.
• If the settlor fails to transfer the property to the trustee correctly the trust may be found to have been improperly constituted.
• Equity would be unable to assist in this circumstance due to the maxim that “equity will not complete an imperfect gift.”
• A trusts lawyer can assist you in setting up the trust according to law and avoiding these problems.