- resulting trust
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resulting trust see trust
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- resulting trust
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A trust implied by law, as determined by a court. Under this type of trust, the person who holds title to or has possession of property is considered a trustee for the proper owner, who is considered the beneficiary. The resulting trust is a legal fiction that forces a property holder to honor the beneficiary's property rights. For example, Mahalia leaves $100,000 with her friend, Albert, while she is on a trip to Europe, asking him "to buy the old Barsallo place if it comes on the market." Albert buys the property, but has title put in his own name, which the court will find is held in a resulting trust for Mahalia. A resulting trust differs from a "constructive trust," which comes about when someone gains possession of another's property by accident, misunderstanding, or dishonesty.Category: Wills, Trusts & Estates
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
- resulting trust
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See implied trust.Related links
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
- resulting trust
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An arrangement whereby one person holds property for the benefit of another, which is implied by a court in certain cases where a person transfers property to another and gives him or her legal title to it but does not intend him or her to have an equitable or beneficial interest in the property.
Dictionary from West's Encyclopedia of American Law. 2005.
- resulting trust
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An arrangement whereby one person holds property for the benefit of another, which is implied by a court in certain cases where a person transfers property to another and gives him or her legal title to it but does not intend him or her to have an equitable or beneficial interest in the property.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.
- resulting trust
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n.a trust implied by law (as determined by a court) that a person who holds title or possession was intended by agreement (implied by the circumstances) with the intended owner to hold the property for the intended owner. Thus, the holder is considered a trustee of a resulting trust for the proper owner as beneficiary. Although a legal fiction, the resulting trust forces the holder to honor the intention and prevents unjust enrichment. Example: Mahalia leaves $100,000 with her friend, Albert, while she is on a trip to Europe, asking him "to buy the old Barsallo place if it comes on the market." Albert buys the property, but has title put in his own name, which the court will find is held in a resulting trust for Mahalia. A resulting trust differs from a "constructive trust," which comes about when someone by accident, misunderstanding or dishonesty comes into possession of property belonging to another.
Law dictionary. EdwART. 2013.