It will sometimes be necessary to establish precisely the moment at which a transfer of value to a trustee takes place. Generally speaking, a trust may be constituted by one of two methods:
(1) Conveyance to a trustee
A transfers property to B to hold in trust for C (or perhaps for A and C). In order to constitute a trust by conveyance, the settlor must take such actions as are necessary to vest the legal title in the trustee, according to the nature of the property transferred. Where the actions taken are insufficient to constitute a conveyance, equity will not intervene to perfect the trust (Richards v Delbridge (1874) LR 18 Eq 11).