NON-TRUSTS.

Question 1

Honorary Trusts

Answer 1

Where a settlor attempts to create a trust for certain specific non-charitable purposes and the beneficiary is not a human being, no true trust arises because there is no beneficiary to enforce the direction of the trustee. A private trust must have a human beneficiary, UNLESS it is a
(1) pet shelter trust (and last no longer than the duration of the pets life) OR
(2) Cemetery trust (trusts for perpetual care and maintenance of cemeteries and burial plots are classified as charitable trusts and are OK even though there is no human designated & not subject to RAP).

Question 2

Constructive Trusts

Answer 2

{EQUITABLE REMEDY} A constructive trust is an equitable remedy imposed to prevent unjust enrichment from wrongful conduct. It transfers property from the wrongdoer to the person who should rightfully receive the property.

Question 3

Resulting Trust

Answer 3

{IMPLIED IN FACT} A resulting trust is an implied in fact trust. The resulting trust returns the property to the settlor.
A purchase money resulting trust arises when a purchaser buys property and has title put in someone else’s name with the intention that the other person will transfer the property back to the purchaser at a later date, but later on the title holder refuses to reconvey the property back as promised. If the purchaser and the title holder are related, there is a rebuttable presumption that it was a gift. If they are not related, there is a rebuttable presumption that the title holder is holding a purchase money resulting trust as trustee for the benefit of the purchaser. Forms after the failure of an express trust; if there is excess corpus at the term. of the express trust; semi-secret trust.