Where property is passed from an owner to a person an implied express trust, but no gift is made by the owner to that person, it is therefore held for the owner by the person, and this is the Resulting trust; where property should for some reason of public policy or rule of Equity be held by a person for someone other than the legal owner, this is either the Statutory trust or the Constructive trust; but where legal title to property is held by someone 'on trust', this is the Express trust.
Other articles related to "express trust, trust, trusts":
... jurisdictions have developed a radically different interpretation of the trust ... Valid trusts can be established by persons who then continue to deal with property as if it were their own during their lifetime, the trust crystallising on death ... Trust funds can be taxed as legal entitles by election ("checking the box") ...
Famous quotes containing the words trust and/or express:
“For Nature ever faithful is
To such as trust her faithfulness.
When the forest shall mislead me,
When the night and morning lie,
When the sea and land refuse to feed me,
Twill be time enough to die.”
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