Expeess Private Trust Flashcards
1
Q
Classification of Tryst
Divided into three namely?
A
Express trust
Implied or resulting trust
Constructive trust
2
Q
EXPRESS TRUST
What is express trust?
A
One created by the act of the owner of property, either intervivos or by will
3
Q
Methods of creation of an express trust?
1.
A
Declaration of trust intervivos by the settlor
4
Q
What happens here?
A
The settlor declares that henceforth he will hold his Property on trust for certain beneficiaries
5
Q
2.
A
Conveyance of property to trustees inter vivos
6
Q
What happens here?
A
The trustees are directed to hold the property upon certain trusts
7
Q
3.
A
Disposition of property to trustees by will
8
Q
What happens here?
A
The trust will not arise until after the death of the testator
9
Q
F
A
Arise from the presumed intention of the owner of property
