Resulting trusts

RESULTING TRUSTS, estates. Resulting, implied or constructive trusts, are those which arise in cases where it would be contrary to the principles of equity that be in whom the property becomes vested, should hold it otherwise than as a trustee. 2 Atk. 150.
     2. As an illustration of this description of a resulting trust, may be mentioned the case of a contract made for the purchase of a real estate; on the completion of the contract, a trust immediately results to the purchaser, and the vendor becomes a trustee for him till the conveyance of the legal estate is made. Again, when an estate is purchased in the name of one person, and the purchase money is paid by another, there is a resulting trust in favor of the person who gave or paid the consideration. Willis on Tr. 55; 1 Cruise, Dig. tit. 12, s. 40, 41; Ch. Ca. 39; 9 Mod. 78; 7 Ves. 725; 3 Hen. & Munf. 367; 1 Supp. to Ves. jr. 11; Pow. Mortg. Index, h.t.; 2 John. Ch. R. 409, 450; 3 Bibb, R. 15, 506; 4 Munf. R. 222; 1 John. Ch. Rep. 450, 582; Sugd. on Vend. ch. 15, s. 2 Cox, Ch. Rep. 93; Bac. Ab. Trusts, C; Bouv. last. Index, h.t. Vide Trusts; Use.

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Geared toward the study of English law in a Bachelor of Laws (LLB), postgraduate, or conversion course, this work contains 13 chapters discussing equity and trusts, the creation of express private trusts, purpose trusts, constitution of trusts, secret trusts, protective and discretionary Trusts, Resulting Trusts and Constructive Trusts, Charitable trusts, the nature of trusteeship, the duties of the trustees, the power of trustees, variation of trusts, breach of trust and remedies.
In analyzing the classification process at the private international law level, the author attempts to address all of the major domestic law proprietary restitutionary claims such as claims to traceable proceeds, proprietary claims to the profits of wrongdoing, resulting trusts, constructive trusts arising in mistaken transfers and remedial constructive trusts.
Resulting Trusts and Transfers Pursuant to Void/Avoided Contracts D.
The pot provision will then divide the assets into shares for the descendants and direct the disposition to the resulting trusts.
13 A trustee may make a qualified severance of a trust at any time, and the resulting trusts are treated as separate trusts for GST tax purposes.
The distinction between resulting trusts and constructive trusts appears to be waning, and courts are simply declaring a trust to be in existence.
The second type is a resulting trust in which a court imposes a trust where the circumstances are such that equity requires the creation of a trust.
2642(a)(3), enacted as part of the generation-skipping transfer tax (GSTT) provisions of EGTRRA, provides rules for severing a trust into two or more trusts so that the resulting trusts will be recognized as separate trusts for GSTT purposes.
It does not apply to resulting trusts, constructive trusts, business trusts, land trusts, or any other arrangement that does not meet the definition of a trust under F.
2642(a)(3), enacted as part of the GST tax provisions of EGTRRA, provides rules for severing a trust into two or more parts so that the resulting trusts will be recognized as separate trusts for GST tax purposes.
Also, the benefits of an employee stock ownership plan or a stock bonus plan are not available, since the resulting trusts would not be permitted shareholders under Sec.
These resulting trusts will remain in existence for the lives of the living children, while trusts for the descendants of deceased children distribute outright to such descendants.