to the [claimants] and to which they assert ownership. The process of following and tracing are, however, distinct. Following is the process of following the same asset as it moves from hand to hand. Tracing is the process of identifying a new asset as the substitute for the old". Following, therefore, is simply establishing who the original owner of property is, where that property is, and returning it to the original owner. Tracing arises when the property cannot be returned and the court is asked to recognise an interest in new property, such as whatever the defendant received in exchange for the claimant's original property. Tracing can occur at both the common law and equity. It is not a remedy for breach of trust; tracing is merely the process of identifying the property. It is then up to the courts to decide what will happen to it. Tracing in common law Common law tracing is where the claimant seeks to identify property that belongs to him at common law. This is where physical possession of the property passes, but not legal ownership. The problem with common law tracing is that the property must be identifiable; if it has been mixed with other property, such as money paid into an account with other money from a different source, it cannot be successfully recovered. In FC Jones & Sons v Jones there as no mixing of property (In a bank account or otherwise) with any other property, so the property was reclaimed. It is also essential that the involuntary transfer did not also transfer the legal title, nor any succeeding transfer. If this has happened, the property is also not recoverable under the common law. Someone with an equitable interest in the property but no legal title, as in MCC Proceeds v Lehman Brothers, cannot recover the money under common law. Due to these limitations, "many leading academics and judges" have suggested that common law tracing should be completely merged with equitable tracing. Tracing in equity Equitable tracing is based not on legal ownership but on the claimant's possession of an equitable interest. There are several advantages to equitable tracing; first, it can trace property now mixed with other property. In Boscawen v Bajwa, Millett justified this by saying that "equity's power to charge a mixed fund with the repayment of trust moneys enables the claimant to follow the money, not because