Section 64A(3) of the Stamps Act 1958 (Vic) does not apply where a constructive trust arises simultaneously with the property becoming an asset of that trust — the subsection requires a trust already in existence before the property becomes an asset of it. This means that the completion of a contract for sale of an equitable interest in land, without an instrument of transfer, does not attract duty under s.64A(3) merely because the vendor becomes a constructive trustee for the purchaser at the moment of completion. The question whether completion of a contract for sale of an equitable interest operates as an immediate disposition or creates a constructive trust was left open.
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