implied trust

implied trust
implied trust see trust

Merriam-Webster’s Dictionary of Law. . 1996.

implied trust
Also known as a resulting trust. An implied trust may be either presumed or automatic. A presumed trust arises where a person is presumed to have the intention to create a trust in respect of property he holds. Such a trust may be inferred when someone provides the purchase price for property to be legally held by another. Whether there is in fact such a legal presumption will depend on the relationship between donor and donee and the other circumstances prevailing at the time. There will, for example, be no such presumption if a gift is from husband to wife. Evidence of intention will usually be sufficient to override this presumption. An implied trust may arise automatically where the settlor fails to dispose of the whole beneficial interest in the property which returns to or "results" to the settlor.
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Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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