![]() ![]() ![]() In this instance, the word 'result' means "in the result, remains with", or something similar to "revert" except that in the result the beneficial interest is held on trust for the settlor. The trust property is said to "result" or jump back to the transferor (implied settlor). ( May 2010) ( Learn how and when to remove this template message)Ī resulting trust is an implied trust that comes into existence by operation of law, where property is transferred to someone who pays nothing for it and then is implied to have held the property for benefit of another person. Please help improve this article if you can. For purposes of New York and New Jersey State ethics rules, please take notice that this website and its case reviews may constitute attorney advertising.This article may require cleanup to meet Wikipedia's quality standards. Before making any decision or accepting any legal advice, you should have a proper legal consultation with a licensed attorney with whom you have an attorney-client privilege. It is not a substitute for professional legal assistance. All information available on our site is available on an "AS-IS" basis. It is possible that the law may not apply to you and may have changed from the time a post was made. The law is also subject to change from time to time and legal statutes and regulations vary between states. The people providing legal help and who respond are volunteers who may not be lawyers, legal professionals or have any legal training or experience. When you submit a question or make a comment on our site or in our law forum, you clearly imply that you are interested in receiving answers, opinions and responses from other people. Legal Disclaimer: The content appearing on our website is for general information purposes only. And when it has once been executed and delivered, it cannot be recalled even where an unmarried man executes a voluntary trust deed for the benefit of future children, nor can he relieve himself from a provision in the conveyance to the trustee, under which the income of the trust property is to be paid to him at the discretion of a third person. ![]() As between the parties such conveyances are, in general, good. ![]() And a conveyance by a father who, though in debt, is not in embarrassed circumstances, who makes a reasonable provision for a child, leaving property sufficient to pay his debts, is not per se, fraudulent. A distinction has been made between previous and subsequent creditors such a conveyance is void as to the former but not as to the latter. But unless so repelled, such a conveyance coupled with a subsequent negotiation for sale, is conclusive evidence of statutory fraud. 4, which presumption may be repelled by showing that the transaction on which the conveyance was founded, virtually contained some conventional stipulations, some compromise of interests or reciprocity of benefits, that point out an object and motive beyond the indulgence of affection or claims of kindred, and not reconcilable with the supposition of intent to deceive a purchaser. Whenever a voluntary conveyance is made, a presumption of fraud properly arises upon the statute of 27th Eliz. The transfer of an estate made without any adequate consideration of value. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |