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Resulting trust - Wikipedia, the free encyclopedia A resulting trust is a type of implied trust created through implication of law where the actions of the parties involved and the nature of the transaction implies an intention to create a trust. In many ways a resulting trust is similar to an express trust as there must be intent. A resulting trust usually occurs where a person omits to divest his beneficial interest in the trust property. en.wikipedia.org /wiki/Resulting_trust   (276 words)

Trust (law) USA - Wikipedia, the free encyclopedia An implied trust (also called a resulting trust) is created where some of the legal requirements for an express trust are not met, but an intention on behalf of the parties to create a trust can be presumed to exist. A resulting trust may be deemed to be present where a trust instrument is not properly drafted and a portion of the equitable title has not been provided for. In order to qualify as a charitable trust, the trust must have as its object certain purposes such as alleviating poverty, providing education, carrying out some religious purpose, etc. The permissible objects are generally set out in legislation, but objects not explicitly set out may also be an object of a charitable trust, by analogy. en.wikipedia.org /wiki/Trust_(property)   (4159 words)

Constructive and Resulting Trusts Constructive trusts are the second kind of trusts which come about by the effect of the law, instead of by express declaration of a settlor (the latter being called express trusts). Constructive trusts are also said to be "remedial" in that they are not property tools (as express trusts are) but are creations of the courts, relying on their jurisdiction under equity, to correct some unequitable wrong; thus, "remedial." Constructive trusts are often described as corrective or even punitive. Where express trusts fail because of mistake or fraud, the vehicle of a constructive trust is often used to ensure the proper return of the trust property to the settlor. www.duhaime.org /Will/ca-trus6.aspx   (1927 words)

[No title] Resulting trusts are divided mainly into two categories: (1) those arising on a failure of an express trust and (2) those arising as the result of a conveyance of property to one person on a consideration from another, commonly referred to as a purchase-money resulting trust. A resulting trust arises at the time title passes; the basic principle is the investment of one's funds, which were not intended as a gift, in the purchase of the property and the taking of title to the property in another. To constitute a resulting trust, there must be a payment by the complainant or an absolute obligation to pay, incurred by him or her as a part of the original purchase transaction, at or before the time of the conveyance. www.birminghambar.org /data/SlipOpinions/SupCt/1030548.htm   (2509 words)

OSCN Found Document:SCOTT v. NELSON A resulting trust is one where the legal estate in property is conveyed or transferred, but the intent appears or is inferred from the terms of the disposition or from accompanying facts and circumstances that the beneficial interest is not to be enjoyed with the legal title. In such case, the trust is implied or results in favor of the person for whom the equitable interest is assumed to have been intended and whom equity deems to be the real owner. A resulting trust arises as an equitable doctrine where the legal estate is transferred and no trust or use is expressly declared, nor any circumstance, or evidence of intent, appears to direct the trust or use, which then results or comes back to the original grantor. www.oscn.net /applications/oscn/deliverdocument.asp?citeid=1787   (1267 words)

Trusts Trust is an entity created to hold assets for the benefit of certain persons or entities, with a trustee managing the trust (and often holding title on behalf of the trust). During the life of the trust, profits and, sometimes, a portion of the principal (called "corpus") may be distributed to the beneficiaries, and at some time in the future (such as the death of the last trustor or settlor) the remaining assets will be distributed to beneficiaries. For example, a trust under which income may be accumulated until a beneficiary is 21 years old, and thereafter must be distributed currently, is a simple trust for taxable years beginning after the beneficiary reaches the age of 21 years in which no other amounts are distributed. www.txcpa.net /trusts.htm   (957 words)

WYOM Found Document:SERAN v. DAVIS Resulting trusts, therefore, are those which arise where the legal estate in property is disposed of, conveyed, or transferred, but the intent appears or is inferred from the terms of the disposition, or from the accompanying facts and circumstances, that the beneficial interest is not to go or be enjoyed with the legal title. Where the trusts in an instrument are not declared, or are only partially declared, a resulting trust arises in favor of the donor or his heirs or next of kin as the case may be. When the trust results by operation of law, as for instance when there is a devise or bequest "upon trust" and no trust is declared, or upon certain trusts that are too vague to be executed, a trust results to the heirs at law or personal representatives. wyomcases.courts.state.wy.us /applications/oscn/DeliverDocument.asp?citeID=29771   (2063 words)

TRUST AND TRUSTEES - LoveToKnow Article on TRUST AND TRUSTEES   (Site not responding. Last check: 2007-11-01) Trusts arising or resulting by implication or construction of law are excepted, and it has been held that the statute applies only to real estate and chattels real, so that a trust of personal chattels may still be declared by parol. Examples of such trusts are trusts for a corporation without licence, for a perpetuity, and for purposes subversive of morality, such as trusts for illegitimate children to be hereafter born. A voting trust is a concerted transfer of their shares in a corporation by a majority of the shareholders to trustees to hold and vote on them for a specified period for the purpose of securing the adoption or continuance of a certain line of corporate action. www.1911ency.org /T/TR/TRUST_AND_TRUSTEES.htm   (6262 words)

John T. Blanchard, P.C. -- Involuntary Trusts And Liens A "constructive trust" is a judicially imposed remedy for a tortfeasor's exercise of control over another's property; that is, it is imposed notwithstanding the absence of an intent to create a trust relationship. As comforting as the linguistic parallels between voluntary and involuntary trusts may seem initially, those same parallels are misleading because a "constructive trust" is not a trust at all; instead, it is only an equitable remedy. Because in theory a resulting trust does enforce a judicially inferred intent (often in the face of vigorous denials of such inferred intent by the trustee), a resulting trust is closer to being a true trust. www.jtblaw.com /involuntary_trusts.asp   (1207 words)

Resulting trusts (introduction)   (Site not responding. Last check: 2007-11-01) Resulting trusts are dealt with in detail later on the course in Swansea, but a common feature of all resulting trusts is that the settlor is also the beneficiary. Another way in which a resulting trust arises is where the settlor conveys legal title to a trustee, but in circumstances where he or she intends to remain equitable owner. This type of resulting trust will be dealt with in detail later in the course at Swansea, but it is quite easy to illustrate the operation of this type of trusts with a matrimonial property example. www.aeg99.dial.pipex.com /trusts/informal/res_intr.htm   (311 words)

TRUST - Online Information article about TRUST An implied trust is founded upon the intention of the person creating it; examples of it are a resulting trust, a precatory trust, and the trust held by the vendor on behalf of the purchaser of an estate after contract and before conveyance. Trusts arising or resulting by implication or construction of law are excepted, and it has been held that the statute applies only to real estate and chattels real, so that a trust of personal chaittels may still be declared by parol. An example of a constructive trust is a renewal of a lease by a trustee in his own name, where the trustee is held to be constructively a trustee for those interested in the beneficial term. encyclopedia.jrank.org /TOO_TUM/TRUST.html   (8633 words)

OSCN Found Document:McKENNA v. LASSWELL Whether or not a resulting trust shall be presumed depends on the accompanying facts and circumstances at the time of the transaction. An express understanding is not a necessary element of resulting trust, the action of the parties with respect to payment, and the deed is deemed to amount to an expression of trust intent which takes the place of an oral or written agreement. Though there is some academic discussion as to whether or not a resulting trust is based on operation of law, or intent of the parties, it was early held that the statute of frauds was not meant to preclude the chancery courts from enforcing resulting trusts, though oral. www.oscn.net /applications/oscn/deliverdocument.asp?citeid=20863   (1423 words)

[No title]   (Site not responding. Last check: 2007-11-01) A resulting trust arises by operation of law to enforce the inferred intention of the parties to the transaction. Unlike a resulting trust, "[a] constructive trust is not grounded in the intention of the parties, inferred or presumed; it is a remedial device of equity - a trust in invitum - to prevent unjust enrichment." Moses v. When a creditor can establish that it is entitled to a constructive trust remedy under state law, the burden shifts to the debtor of demonstrating that it would be inequitable as a matter of federal bankruptcy law to impose a constructive trust over those funds. www2.akb.uscourts.gov /4abr1.htm   (2337 words)

Resulting Trust Doctrine (Gordon Goldberg, 29 Jul 1999) For the distinction in Jowitt's Dictionary of English Law (2nd edn, London 1977, by Burke) of constructive from implied trusts, by virtue of the latter's "reference to the presumable intention of the parties" and without mentioning resulting trusts, is understandable. Resulting trusts are but a species of implied trusts and as such themselves make "reference to the presumable intention of the parties". 269 at p.294 between a "presumed resulting trust" and an "automatic resulting trust", on the basis that the latter "does not depend on any intentions or presumptions, but is the automatic consequence of [the grantor's] failure to dispose of what is vested in him", does not exist. www.ucc.ie /law/restitution/rdg/9907013.htm   (624 words)

Vancouver-Trusts-Lawyer   (Site not responding. Last check: 2007-11-01) A resulting trust can also arise where, by express agreement, the title holder offers an interest in the property to the non-title holder in exchange for a contribution of funds or services. A resulting trust is presumed if a person gratuitously transfers his property to another who is a stranger in the eyes of the law. " resulting trusts are firmly grounded in the settlor’s intent as are express trusts, but with this difference- that the intent is inferred, or is presumed as a matter of law from the circumstances of the case. www.disinherited.com /articles_result.htm   (1748 words)

TITLE 17: CHAPTER 23 - ARTICLE 2 - MERGER, CONSOLIDATION AND CONTINUANCE   (Site not responding. Last check: 2007-11-01) Unless otherwise provided in the governing instrument of a statutory trust, a merger or consolidation shall be approved by all of the trustees and the beneficial owners of each statutory trust which is to merge or consolidate. (b) If a statutory trust is merging or consolidating under this section, the statutory trust or other business entity surviving or resulting from the merger or consolidation shall file a certificate of merger or consolidation in the office of the secretary of state. The laws of this state shall apply to a statutory trust continuing under this chapter to the same extent as if the statutory trust had been organized under the laws of this state from and after the issuance of a certificate of continuance under this chapter by the secretary of state to the statutory trust. legisweb.state.wy.us /statutes/titles/title17/c23a02.htm   (1071 words)

Resulting Trust   (Site not responding. Last check: 2007-11-01) A Declaration of Trust is a dutiable transaction (see Section 8(1)(b) of the Duties Act) and generally liable to full duty based on the dutiable value of the dutiable property the subject of the trust. A Resulting Trust is established when property is acquired by someone other than the real purchaser (known as the apparent purchaser) to be held on trust for the person who actually provided the money for the purchase. In the case of a resulting trust, concessional duty may also be applied where the property is subsequently transferred from the apparent purchaser (trustee) to the real purchaser (beneficiary). www.osr.nsw.gov.au /portal/page?_pageid=373,201219&_dad=portal&_schema=OSRPTLT   (199 words)

[No title] A resulting trust is an "intent enforcing" trust; it arises by operation of law and the presumed intent of the parties. The resulting trust is based upon the "natural equity" that the one who pays for the property should enjoy it. A resulting trust arises at the time of the conveyance, and the payor's intention at that time determines whether a resulting trust may be found. www.state.il.us /court/opinions/AppellateCourt/1998/3rdDistrict/July/HTML/4970990.txt   (1063 words)

[No title] If the secretary of state finds that the statutory trust name applied for is available, the secretary shall file the application and reserve the name for the applicant's exclusive use for a nonrenewable one hundred twenty (120) day period. Notwithstanding prior approval, an agreement of merger or consolidation may be terminated or amended pursuant to a provision for termination or amendment contained in the agreement of merger or consolidation. Upon issuance of a certificate of continuance by the secretary of state, the certificate of continuance shall be the certificate of trust of the continued statutory trust. www.stcl.edu /lnet-llc/files/wyoming.2.trust.txt   (1872 words)

Resulting trusts A resulting trust arises where although legal title is vested in a trustee, equitable title becomes vested in the settlor. The resulting trust here does not depend on any intentions or presumptions, but is the automatic consequence of A's failure to dispose of what is vested in him. Presumed resulting trusts have always been assumed to be based on the intention of the transferor, not to part with equitable title. dspace.dial.pipex.com /pntodd/trusts/informal/res_tr.htm   (1046 words)

Dictionary.com/trust A trust can be used, for example, if someone who is under age or for someone who has a mental disability impairing the ability to maintain finances. The traditional requirements of a trust are a named beneficiary and trustee (who may be the settlor), an identified res, or property, to be transferred to the trustee and constitute the principal of the trust, and delivery of the res to the trustee with the intent to create a trust. Under the current rules, the settlor is treated as the owner of any portion of a trust in which he or she has a reversionary interest, and therefore taxes are calculated at the settlor's rate. dictionary.reference.com /search?q=trust   (2279 words)

12 Wn. App. 542, H. C. GRANDY et al., Appellants, v. P. H. LUTHER et al., Respondents A resulting trust is imposed in place of an abortive tryst only when it is consistent with the parties' intended result. They insist that once it is determined that the trust contract is an abortive trust, the court must apply the doctrine of resulting trust to the assets of the abortive trust and order a distribution of those assets to those who furnished the moneys represented by those assets. Whether the trust contract is an abortive trust or a partnership contract, the manifest intention of the parties precludes a liquidation. www.mrsc.org /mc/courts/appellate/012wnapp/012wnapp0542.htm   (1310 words)

Tucker v. Westlake, 136 NC App 162 (99-211) 12/21/1999 The trial court erred in an action to establish a resulting trust in the admission of an unprobated will on the issue of intent where the only issue before the jury was Mrs. There was no prejudicial error in an action to establish a resulting trust in the improper admission of a negotiated agreement and consent order from the estate administration of Mr. None of that evidence presents a determinative defense to the plaintiffs' claim that the property was being held under a resulting trust. www.aoc.state.nc.us /www/public/coa/opinions/1999/990211-1.htm   (2705 words)

OUP: Resulting Trusts: Chambers The resulting trust has received little attention in recent years and this may be because, until relatively recently, the law relating to resulting trusts was thought to be settled and uncontroversial. Most of the current academic writing about resulting trusts is found in the established textbooks on equity and trusts, but these tend to provide little more than catalogues of the situations in which resulting trusts arise. There is, however, very little consensus on the principle by which the resulting trust operates, including the fundamental question whether it arises by opertaion of law or depends on the presumed intention to create a trust. www.oup.co.uk /isbn/0-19-876444-8   (333 words)

Westdeutsche v Islington BC (quotes) In the case of a trust, the conscience of the legal owner requires him to carry out the purposes for which the property was vested in him (express or implied trust) or which the law imposes on him by reason of his unconscionable conduct (constructive trust). Both types of resulting trust are traditionally regarded as examples of trusts giving effect to the common intention of the parties. A resulting trust is not imposed by law against the intentions of the trustee (as is a constructive trust) but gives effect to his presumed intention. ourworld.compuserve.com /homepages/pntodd/cases/cases_w/westd_qu.htm   (876 words)

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