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Resulting Essay Topics & Paper Examples

Development of the Resulting Trust

A resulting trust is defined and described as “a situation in which a transferee is required by equity to hold property on trust for the transferor; or for the person who provided the purchase money for the transfer” (Martin 1993, p. 233). Thus, a resulting trust arises when a person holds a property for another notwithstanding the fact that the former has the legal title in his name but holds the property as fiduciary for the benefit of the original title owner of the one who gave value therefore. Robert Chambers (1997, p. 9) classifies the situations under which a resulting trust may arise as, i. e. “apparent gifts, trusts which fail and quistclose trust” which shall be discussed at…