This book provides a straightforward and readable exposition of the key principles of the law of trusts and equity, a subject often approached by students with trepidation. This edition has been revised to include a broader and deeper analysis of the Trustee Delegation Act 1999 and the Trustee Act 2000. Extensive extracts from these two pieces of legislation are included, as well as an Appendix of the key provisions of the Trustee Act 2000. It includes detailed consideration of law reform proposals including forthcoming Law Commission Consultation Papers of property rights of homesharers and trustee's exemption clauses, and report from the Performance and Innovation Unit on the legal definition of a charity.