So in my reading I've come across a case (Prest v Petrodel) where a man wholly owned several companies, and purchased property in their name, but basically treated it as his property.
Anyway, it was found by the UK Supreme Court that because he contributed 100% towards the purchase price of the properties, those properties were therefore held on resulting trust for this man.
And so in handling a divorce, these properties counted as his assets, and ownership of some properties were awarded to the wife.
Now my question is - resulting trust aside - what if he held those properties in a trust for himself and someone else (say, 1 percent beneficial interest towards another company he set up, and 99 percent for himself). For the sake of argument lets say he did this way before divorce proceedings, or even before marriage
Let's say the terms of this discretionary trust were that the trustees had to give the beneficiaries the property after 60 years. Since the man is trustee he essentially can do what he wants with the property except for selling it etc.
So if the court awarded his 99% interest in the trust to the wife. How could she access the trust property?
The man as trustee is not obliged to hand over beneficiaries the property until 60 years has passed. He can use it as his own since he is trustee, and she cannot dissolve the trust under Saunders v Vautier, because it requires unanimity by all beneficiaries, and since he controls the company that owns the 1% interest, he can direct it to refuse the dissolution of the trust.
Would such a trust arrangement effectively prevent her from enjoying the property before the trust ends?