SIXTH CONCEPT: RESULTING TRUSTS Flashcards Preview

Trusts > SIXTH CONCEPT: RESULTING TRUSTS > Flashcards

Flashcards in SIXTH CONCEPT: RESULTING TRUSTS Deck (7)
Loading flashcards...
1

Define a "resulting trust"

an implied in fact trust and is based upon the
presumed intent of the parties.

2

What if the court decrees a resulting trust?

the resulting trustee will transfer the property to the settlor if the settlor is alive, and if not, to the settlor’s estate

3

"Settler creates a trust to enable her daughter to obtain a law school education." What happens to the trust after the daughter completes her law school education?

We presume the settlor wants the property back.

4

when a private express trust fails, because there is
no beneficiary What happens to the trust?

we presume settlor wants the property back: to settlor if alive, and if not, to settlor’s estate. (a resulting trust.

5

Settler creates a trust for building and maintaining a free hospital, and there is not enough money, if cy pres cannot be used back to settler if alive or settlers estate what happens?

There is a resulting trust and it goes back to the settlor or his estate.

6

Settlor creates a valid private express trust, but due to excellent investing, there is more than enough corpus available to accomplish the trust purpose. With respect to that excess corpus what happens?

A resulting trust back to the settlor or his estate.

7

A pays consideration to B, to have title to property transferred to C. what is this called?

A purchase money resulting trust.