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Professor Brett Davies explains the concept of a declaration of trust, which allows an individual to secretly purchase an asset without the vendor knowing their identity. This might be appealing for personal privacy or discretion in purchases, such as buying a specific car they desire. For instance, if someone wishes to buy a 1986 Corvette Stingray but doesn't want to be directly involved, they can appoint a trusted friend (the trustee) to make the purchase on their behalf. This arrangement enables the individual to maintain anonymity while ensuring that they ultimately retain control and ownership of the asset without the trustee gaining ownership themselves.