Milroy v Lord [1862]

Turner LJ:
‘Well settled, that, in order to render a voluntary
settlement valid and effectual, the settlor must have done everything which …
was necessary to be done in order to transfer the property’
The outlined 3 modes of making a gift:
(i)  Outright transfer
of title to property.
(ii)  Transfer
of legal title to a trustee to hold on trust.
(iii)  Declaring
oneself a trustee.
Reiterated that equity will not perfect an imperfect
If settlement intended to be effectuated by one mode,
court will not give effect to it by applying another.
Present case clearly intended to be (ii), but transfer
of title to purported trustee was ineffective.
(ii) requires effective declaration of trust and effective transfer of title to be
Not allowed to argue (iii) – that settlor declared
himself trustee in some way.