Resulting trusts

Question 1

Presumption in transfers of personalty

Answer 1

That transferee holds it on trust for transferor
Rebuttable

Question 2

Presumption in transfers of land

Answer 2

Trust cannot be presumed without evidence!

Question 3

Presumption in all purchase money cases

Answer 3

If both contribute to purchase price at time of purchase, presumption is it’s held on trust for both

Question 4

Presumption of advancement arises when…

Answer 4

Transfers/provision of purchase money:
- from father to child,
- from person in loco parentis to child under 18,
- from husband to wife,
- from male fiancee to female fiancee

These transfers are presumed to be gifts

Question 5

Formalities for creating implied trusts

Answer 5

None

Question 6

Automatic resulting trust for settlor created when:

Answer 6

Express trust fails:
Settlor transfers property to trustees, but trust doesn’t dispose of whole equitable interest because it’s void/doesn’t exhaust trust fund