McCready & Anor; Estate of Lindsay Leslie McCready [2004] NSWSC 887

New South Wales Supreme Court

CITATION : McCready & Anor; Estate of Lindsay Leslie McCready [2004] NSWSC 887 revised - 28/09/2004 HEARING DATE(S) : 19/08/04 Written submissions: 15/09/04 JUDGMENT DATE : 24 September 2004 JURISDICTION: Equity Division JUDGMENT OF : Barrett J DECISION : Claim for order under s.72 Trustee Act 1925 dismissed

CATCHWORDS : TRUSTS AND TRUSTEES - land held by trustees upon trust for testator's son for life with remainder to son's children - son childless and likely to remain so - trustees seek order under s.72 Trustee Act vesting land in son freed from contingent rights of unborn children - nature of s.72 order as "vesting order" - requirement for separately existing equitable entitlement in need of perfecting by vesting order - s.72 does not permit variation of trusts independently of such requirement LEGISLATION CITED : Trustee Act 1925, ss.72, 78 Bank of Australasia v Balbirnie Vans (1861) 1 W&W Eq 120 Chang v Registrar of Titles (1976) 137 CLR 177 Hargreaves v Wright (1853) 10 Hare App II lvi; 68 ER 1147 Re Blocksidge [1997] QdR 234 CASES CITED : Re Eggleston; The Equity Trustees Executors and Agency Company Ltd v Eggleston [1940] VLR 474 Re Moore's Will; Moore v Willis (1901) 1 SR(NSW) Eq 148 Salkeld v Salkeld [2000] SASC 296 Union Bank of Australia v Harrison Jones and Devlin Ltd (1910) 11 CLR 492 Wentworth v Humphrey (1886) LR 11 App Cas 619 Wood v Beetlestone (1854) 1 K&J 213; 60 ER 434 PARTIES : Glen Leslie McCready and Judith Catherine Fuller - Plaintiffs FILE NUMBER(S) : SC 5276/03 COUNSEL : Mr C Stomo SOLICITORS : Gunn Hamilton & Blay