What is the ratio in Re Rose?

An equitable assignment occurs when the assignor has done everything within their power to effect the transfer, even if legal title has not yet passed to the assignee.

What did the court decide in Re Rose?

The Court of Appeal held that the share transfers were complete in equity when executed and delivered, not when registered by the company, making them effective gifts inter vivos.

Why is Re Rose important for equity law?

It established the key principle for when incomplete gifts become effective, balancing the rule that equity will not assist volunteers with the policy of not defeating completed gifts.

What is the ratio in Re Rose?

An equitable assignment occurs when the assignor has done everything within their power to effect the transfer, even if legal title has not yet passed to the assignee.

What did the court decide in Re Rose?

The Court of Appeal held that the share transfers were complete in equity when executed and delivered, not when registered by the company, making them effective gifts inter vivos.

Why is Re Rose important for equity law?

It established the key principle for when incomplete gifts become effective, balancing the rule that equity will not assist volunteers with the policy of not defeating completed gifts.

Equity & Trusts1 min read

Re Rose

[1952] Ch 499Court of Appeal1952

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“Gift complete in equity when donor does everything in their power”

Facts

Mr Rose executed share transfers and delivered them to the transferees, but the transfers were not registered by the company until after his death. The question arose whether the gifts were complete for tax purposes before registration.

Issues

Whether a gift of shares is complete in equity before registration by the company when the transferor has done everything required of them to effect the transfer.

Held

The gifts were complete in equity when Rose delivered the executed transfer forms, even though legal title did not pass until registration.

Significance

This case established the 'Re Rose principle' which is crucial in determining when equitable title passes in property transfers. It remains a cornerstone of equity and trusts law regarding incomplete gifts.

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OSCOLA Citation

Re Rose [1952] Ch 499 (CA)

Equity and TrustsProperty LawTax Law

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