Equity and Trusts Essay Example | Topics and Well Written Essays - 1000 words - 2

Equity and Trusts - Essay ExampleThe contention of this paper was that the principles of need and partnership were incongruous for cohabitant couples. most(prenominal) of the instances of such couples with children involve limited assets. Therefore, the court had to assess the extent of the economic requirements of the children and then divide the assets. After taking into account the recommendations of various legal luminaries, tall jurists, sociologists and other experts a final report will be published in the year 2007. Its recommendations are expected to substantially benefit separating cohabitees2.If a split up ensues, then the court can issue pension adjustment orders. However, the Law Commission opined that this facility should non be extended to a cohabitation relation that breaks down, because it does not accord the same importance to cohabitation that it does to marriage3.It is an onerous task to consider the legal treatment of cohabitants as it involves important quest ions of accessible policy. Its complexity can be attributed to the laws and its social impact. The larger problems posed by this phenomenon have been dealt with in Parliament and the Law Commission has restricted its endeavours to the establishment of technical deficiencies in the law and to recommending the procedure to be adopted in order to ensure that reform takes place4.In October 1999, the Law Society made several proposals to the Courts to pass such orders as would ensure earnings of capital and maintenance on separation. The Law Commissioner, Charles Harpum, opined that the law in respect of home sharing was biased, ambiguous and irrational. In addition, the Office for National Statistics had disclosed that the subjugate of cohabiting couples was on the increase.The rights of cohabitants are far fewer in comparison to the rights of married couples. Further, it would be incorrect to maintain that this situation is ideal as only