Search for a command to run...
Until recently, individual title of land holding was very rare because it is a practice that was hardly known to customary law and it was usually held as repugnant to the natural phenomena as we have it among us in Nigeria. But all that had changed and we now have the concept of trust in real property administration. Since the main element of trust is that a particular property is vested in a trustee for the benefit of the beneficiary, the trustee being the legal owner who manage and safeguard the trust property in a productive manner. This article explores and examined the concept of trust as it affects the administration of real property. It also looked into the massive growth of commerce and industry, complex business transactions arising from the growth, the problems inherent in these evolving commercial relationships, with emphasis on the practicality of the trust concept in these commercial relationships. Similarly, the legal assertion that, constructive trust is a vital legal mechanism through which the conscience of equity finds expression was examined. Situation arises when real property is acquired in such circumstances that the legal title holder may not in good conscience keep the beneficial interest, equity will make him a trustee of the property. Hence, this work assessed the degree to which constructive trust as equitable remedy is applicable under the Nigeria legal system. Information was gathered and collected through secondary data collection method. It was found in the course of this work that the concept of trust had brought about a positive revolution into the Nigerian jurisprudence. Yet, more still need to be done to consolidate on the benefits derived from the trust concept.