implied trust
implied trust see trust

Merriam-Webster’s Dictionary of Law. . 1996.

implied trust
Also known as a resulting trust. An implied trust may be either presumed or automatic. A presumed trust arises where a person is presumed to have the intention to create a trust in respect of property he holds. Such a trust may be inferred when someone provides the purchase price for property to be legally held by another. Whether there is in fact such a legal presumption will depend on the relationship between donor and donee and the other circumstances prevailing at the time. There will, for example, be no such presumption if a gift is from husband to wife. Evidence of intention will usually be sufficient to override this presumption. An implied trust may arise automatically where the settlor fails to dispose of the whole beneficial interest in the property which returns to or "results" to the settlor.
Related links

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

  • implied trust — ➔ trust * * * implied trust UK US noun [C or U] LAW ► a type of trust (= a legal arrangement in which someone is given control over another person s money or property) that a court decides it was someone s intention to create, although it was not …   Financial and business terms

  • implied trust — noun a trust inferred by operation of law • Hypernyms: ↑trust • Hyponyms: ↑constructive trust, ↑involuntary trust, ↑resulting trust * * * noun 1. : a trust created by operation of law for reasons based on considerations of …   Useful english dictionary

  • implied trust — A trust which comes into existence through the application of intention to create a trust as a matter of law. A term also used for what is really a constructive trust, a trust by operation of law irrespective of and even contrary to the intention …   Ballentine's law dictionary

  • trust — n 1 a: a fiduciary relationship in which one party holds legal title to another s property for the benefit of a party who holds equitable title to the property b: an entity resulting from the establishment of such a relationship see also… …   Law dictionary

  • implied — im·plied /im plīd/ adj: not directly or specifically made known (as in the terms of a contract); specif: recognized (as by a court) as existing by reason of an inference and esp. on legal or equitable grounds for breach of implied covenants in… …   Law dictionary

  • trust — A legal entity created by a grantor for the benefit of designated beneficiaries under the laws of the state and the valid trust instrument. The trustee holds a fiduciary responsibility to manage the trust s corpus assets and income for the… …   Black's law dictionary

  • Trust law — In common law legal systems, a trust is an arrangement whereby property (including real, tangible and intangible) is managed by one person (or persons, or organizations) for the benefit of another. A trust is created by a settlor, who entrusts… …   Wikipedia

  • trust — A fiduciary relationship calling for a trustee to hold the title to assets for the benefit of the beneficiary. The person creating the trust, who may or may not also be the beneficiary, is called the grantor. Bloomberg Financial Dictionary See… …   Financial and business terms

  • trust — trustable, adj. trustability, n. truster, n. /trust/, n. 1. reliance on the integrity, strength, ability, surety, etc., of a person or thing; confidence. 2. confident expectation of something; hope. 3. confidence in the certainty of future… …   Universalium

  • implied use — An implied trust. See implied license …   Ballentine's law dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”