Resulting Trust
Legal Definition and Related Resources of Resulting Trust
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Meanings, Synonyms, Etymology, Translations and More
Meaning of Resulting Trust
The doctrine of resulting trust is an equitable one arising from the nature or circumstances of consideration involved in a transaction; it is a trust implied by law as distinct from an expressed trust. Broadly the resulting trust may be categorized into two classes; firstly where one person buys and pays for a property and has the conveyance made to another party , obligating the latter to hold his legal title for the benefit of the former in equity. It arises where a person makes or causes to be made a disposition of property under circumstances which raise an inference that he does not intend that person taking or holding property should have beneficial interest therein unless inference is rebutted. See Moses v Moses, 140 N.J.Eq. 575, 53 A.2d805. The second category is where an express trust fails by reason of it being indefinite, uncertain or vague and the inference of resulting trust to the donor is not rebutted. See Wagner v Clauson, 399 III. 403, 78 N.E.2d203. It can also arise not only where the express trust fails in whole or in part but where it is fully performed without exhausting the trust estate. See Saulia v Saulia, 295 N. Y. S.2d 980, 31 A. D.2d 640.
Resulting Trust Alternative Definition
A trust raised by implication or construction of law, and presumed to exist from the supposed intention of the parties and the nature of the transaction. All trusts created by implication or construction of law are often included under the general term "implied trust;" but these are commonly distinguished into implied or resulting and constructive trusts; resulting or presumptive trusts being those which are implied or presumed from the supposed intention of the parties and the nature of the transaction; constructive trusts, such as are raised independently of any such intention, and which are forced on the conscience of the trustee by equitable construction and the operation of law. Story, Eq. Jur. § 1095; Hill, Trustees, 91; 1 Spence, Eq. Jur. 510; 2 Spence, Eq. Jur. 198; 3 Swanst. 585; 1 Ohio, 321; 6 Conn. 285; 2 Edw. Ch. (N. Y.) 873; 6 Humph. (Tenn.) 93. See "Trust."
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Resulting Trust in Historical Law
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Related Legal Terms
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Constructive Trust, Involuntary Trust.
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Resulting Trust in the context of Real Property
See: Constructive Trust in this legal Dictionary.
Resulting Trust in the context of Real Property
See: Constructive Trust in this legal Dictionary.