Equity has a more sophisticated method of tracing than that of common law. The rules assisting in the location and preservation of traceable property have been developed and applied in relation to fiduciaries and often in the context of the bankruptcy of the fiduciary. In common law, the doctrine of tracing enables a claimant to trace the path of their misappropriated property, identify the proceeds of the property along with persons who have handled the property. Moreover, the common law remedy of tracing enables an applicant to make a claim against the property itself or alternatively, claim rights to asset as substitution for the original property or its proceeds.
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