resulting trust


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resulting trust

A trust that is implied by law as necessary to carry out the true intentions of the parties involved. It typically arises when one transfers legal title to another for various reasons, but both parties intended the grantor to retain all benefits from the property. If an elderly person transferred her home to a child as an estate planning tool,but continued to live in the residence,the law would not allow the child to sell the home and keep the proceeds. It would, instead, impose a resulting trust.Contrast with a constructive trust.

References in periodicals archive ?
Robert Chambers, Resulting Trusts (Oxford, UK: Clarendon Press, 1997), where the author argues that resulting trust is a chief proprietary remedy for unjust enrichment.
Once rescission is sought, the resulting trust would relate back to the time of transfer, as if an equitable ownership interest has never been passed on to the recipient; Re Garnett, [1886] 33 ChD 300 at 306.
Unlike unjust enrichment, the resulting trust analysis is not predicated upon there being anything unjust about the transfer.
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.
Where resulting trusts arise in connection with a valid transfer of legal title pursuant to a void contract, characterization under the conflict of laws is similar to situations where the contract is voidable.
Alternatively, it is also possible that Scottish domestic law, as the applicable law identified by the Scottish conflict rules, recognized an English title arising from resulting trusts.
And, a single trust can be severed even though the resulting trusts are dissimilar.
1001 to apply to situations in which one of the resulting trusts from a qualified severance is a skip person and in which a trust beneficiary is granted a contingent testamentary GPOA that is dependent on a trust's inclusion ratio.
The proposed regulations provide that a trust with an inclusion ratio between one and zero may be split into more than two trusts as long as the resulting trusts have an inclusion ratio of one or zero; and