The important point to note in connection with this definition of a trust1 is that there is no requirement of a trust, and if there were the paragraph would probably be superfluous as adding nothing to 'in trust for persons in succession' in IHTA 1984, s 43(2)(a). However, where any annuity or periodical payment is charged on land it will formerly have given rise to a settlement for the purposes of the Settled Land Act 19252.
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