Texas Plaintiff's Original Petition for Disgorgement, Money and Resulting Trust
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How to fill out Texas Plaintiff's Original Petition For Disgorgement, Money And Resulting Trust?
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FAQ
An implicit trust created by operation of law, either by presumption or automatically. This is because 'the person in whose favour the trust arises is the person who provided the property or equitable interest vested in the person bound by the trust'.
If a trust fails to do what the client wanted (transfer assets by specific instructions contained in the trust, or avoid probate, for example), then it has failed whether the trust is legally sufficient or not.
Abstract: The presumption of advancement is a well-established equitable principle in English law, which operates to presume that a purchaser or transferor of property intended to transfer the beneficial interest to the recipient in certain relationships.
A constructive trust is founded upon a common intention that can either be expressed or inferred but cannot be based upon an intention that the parties never in fact had. Estoppels may be claimed where there has been either a representation or acquiescence that an interest in property is to arise.
Evidence the money was a gift such as a gifted deposit letter. Evidence the money was a loan such as a loan agreement or a promissory note.
The imposition of a constructive trust requires: (1) the existence of res (property or some interest in property); (2) the right of the complaining party to that res; and (3) some wrongful acquisition or detention of the res by another party who is not entitled to it. See Burlesci v.
What is the difference between resulting and constructive trusts? Constructive trusts are imposed by the court as an equitable remedy where it would be unconscionable for the other party to hold onto the property.However, resulting trusts give effect to the implied intentions of the owner.
A purchase money trust or purchase money resulting trust is created when a person purchases property, but instructs the seller to transfer the property or title to a different person. It generally arises as a matter of course when an item of property is purchased using the money of another person.
An automatic resulting trust will arise where the settlor transfers property to the intended trustee but the trust has failed for some reason. The trustee holds the legal title of the property on trust. The beneficial or equitable ownership is retained by the settlor.