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This article explores the basic concepts of resulting trusts, emphasizing their nature and implications when trust words and conduct collide. Resulting trusts often benefit the settlor or the settlor’s successors in interest, bypassing traditional trust law. Situations leading to resulting trusts include situations where an express trust's property is excessive without proper guidance, the failure of an express trust, and purchase-money resulting trusts. These nuances are crucial for legal practitioners navigating trust law intricacies.
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Basic Concepts • Implied by conduct (rather than words). • Who benefits? • Settlor, or • If settlor is dead, settlor’s successors in interest • Not governed by normal trust law as not a real trust
Situations where resulting trusts arise • 1. Express trust property excessive and trust instrument does not provide instructions. • “implied reversionary interest”
Situations where resulting trusts arise • 2. Failure of express trust • Settlor attempts to create a trust but the attempt fails. • Thus, settlor still has the property.
Situations where resulting trusts arise • 3. Purchase-money resulting trust Seller $ title Buyer Title Holder • Donor Donee • Creditor Debtor • B of PMRT T of PMRT
