Resulting trust definition

Resulting trust means a trust that arises in favor of the settlor or the settlor’s successor’s interest on the failure of an express trust in whole or in part.
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Resulting trust means a trust that arises in favor of the settlor or the settlor’s successor’s
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Resulting trust means a statutory trust formed as a consequence of a division (6) “Surviving trust” means a dividing trust that survives the division.
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Examples of Resulting trust in a sentence

  • Grounds for refusing an order under Part IV – Resulting trust – paras.

  • The conditioning of the transfer of twenty-five per- cent or more of the outstanding shares or participation shares of a class of voting securities of a state trust company on the transfer of twenty-five percent or more of the outstanding shares of a class of voting securities of another state trust company or other company.(3) "Merger" includes consolidation.(4) "Merging trust company" means a party to a merger.(5) "Resulting trust company" means the trust company resulting from a merger.

  • Resulting trust – an implied-in-fact trust based on the presumed intent of the parties.

  • Resulting trust - a slight misnomer▪ Equitable interest created through occurrence of resulting trust– Cannot have prop going to someone who has not owned property—no Equitable interest pre-existing creation of resulting trust / before transfer occurs▪ resulting trust → “jumps up” in favour of beneficiary B.

  • Resulting trust Automatic resulting trust Failure of express of trust Invalid trust provisions Failure to dispose of entire beneficial interest Surplus funds (Abbott; Barrett): Whether settlor intended an outright gift subject to condition or a gift to effect a purpose ( surplus held on trust).

  • That is the person who is entitled to RT2) Always watch for situations where someone gets prop back from RT and retains money – the money may have to be returned elsewhere b) UE: D enriched + P deprived by payment of price + unjust factor because P presumed not to intend gift to Dave (assuming that D is not P’s child)c) Resulting trust: Dave holds legal title for benefit of Pam 10:1 ratio.

  • Unless the context clearly requires otherwise, the definitions in this section apply throughout this chapter.(1) "Merger" includes consolidation.(2) "Merging trust company" means a party to a merger.(3) "Resulting trust company" means the trust company resulting from a merger.(4) "Vote of stockholders" or "vote of classes of stock- holders" means only a vote of those entitled to vote under the terms of such shares.

  • Resulting trust arises - houses result back to testator's estate.According to deed, daughter M had a bare power of selection.

  • This arrangement is designed to prevent an irresponsible beneficiary from borrowing money from others and promising to use trust assets to repay the debt, thereby defeating the purpose of the trust • Resulting trust - A trust that is created by the courts due to the failure of an express trust and is intended to achieve a purpose that the creator of the express trust might have chosen had they known of the failure.

  • Resulting trust are intent enforcing devices that arise by operation of law and the presumed intent of the parties distilled from their conduct.


More Definitions of Resulting trust

Resulting trust means a statutory trust formed as a consequence of a division
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Related to Resulting trust

  • Voting Trust has the meaning set forth in Section 2.2(b).

  • Liquidating Trust means the liquidating trust maintained by the Trustee holding the Trust Assets of the Partnership, identified as the "PLM Equipment Growth Fund III Liquidating Trust"; also referred to herein as the "Trust."

  • PFPC Trust means PFPC Trust Company or a subsidiary or affiliate of PFPC Trust Company.

  • Income trust means a trust or an entity, including corporate and non-corporate entities, the securities of which entitle the holder to net cash flows generated by an underlying business or income-producing properties owned through the trust or by the entity;

  • Litigation Trust means the trust to be established on the Plan Implementation Date at the time specified in section 6.4(p) in accordance with the Litigation Trust Agreement pursuant to the laws of a jurisdiction that is acceptable to SFC and the Initial Consenting Noteholders, which trust will acquire the Litigation Trust Claims and will be funded with the Litigation Funding Amount in accordance with the Plan and the Litigation Trust Agreement.

  • Liquidating Trust Assets means the assets of a Debtor or Debtor-Controlled Entity to be transferred to a Liquidating Trust as may be determined by the Plan Administrator, which shall be described in a Liquidating Trust Agreement.

  • Delaware Business Trust Act means Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code Section 3801 et seq., as it may be amended from time to time.

  • First trust means a trust over which an authorized fiduciary may exercise the decanting power.

  • Voting Trust Agreement means the Voting Trust Agreement entered into ---------------------- as of April 15, 1996 by and among Xxxxxx X. Xxxx; Xxxxx X. Xxxx, Xx.; Xxxxx X. Xxxx, Xx.; and F. Xxxxxx Xxxxxxx as the Voting Trustees and the stockholders of LSAI Holding Corp. who are parties thereto.

  • EDFR means the Eurosystem Deposit Facility Rate, the rate on the deposit facility, which banks may use to make overnight deposits with the Eurosystem (comprising the European Central Bank and the national central banks of those countries that have adopted the Euro) as published on the Website of the European Central Bank;

  • Liquidating Trust Agreement means an agreement evidencing the terms and provisions governing a Liquidating Trust that shall be entered into prior to the establishment of such Liquidating Trust and pursuant to which a Liquidating Trustee shall manage and administer Liquidating Trust Assets.

  • BlackRock Funds and “Trustees of BlackRock Funds” refer respectively to the trust created and the Trustees, as trustees but not individually or personally, acting from time to time under a Declaration of Trust dated December 22, 1988, as amended, which is hereby referred to and a copy of which is on file at the office of the State Secretary of the Commonwealth of Massachusetts and at the principal office of the Fund. The obligations of “BlackRock Funds” entered into in the name or on behalf thereof by any of the Trustees, officers, representatives or agents are made not individually, but in such capacities, and are not binding upon any of the Trustees, shareholders, officers, representatives or agents of the Fund personally, but bind only the Trust Property (as defined in the Declaration of Trust), and all persons dealing with any class of shares of the Fund must look solely to the Trust Property belonging to such class for the enforcement of any claims against the Fund.

  • Virginia real estate investment trust means a real estate investment trust, as defined in 26 U.S.C.

  • Underlying Trust Means the "Trust Fund" as defined in the Underlying Agreement.

  • DST means the Department of Science and Technology of the Central Government;

  • Plan Trust means the trust governed by the Plan.

  • Blind Trust means an independently managed trust in which the employee-beneficiary has no management rights and in which the employee-beneficiary is not given notice of alterations in or other dispositions of the property subject to the trust.

  • Real Estate Investment Trust means that term as defined under section 856 of the internal revenue code.

  • the Macfarlane Trust means the charitable trust, established partly out of funds provided by the Secretary of State to the Haemophilia Society, for the relief of poverty or distress among those suffering from haemophilia;

  • Liquidating Trustee has the meaning set forth in Section 6.2(a).

  • Litigation Trust Agreement means the trust agreement dated as of the Plan Implementation Date, between SFC and the Litigation Trustee, establishing the Litigation Trust.

  • Enterprise Fund means the enterprise fund of the Recipient in which Revenues are deposited.

  • CBO means a community-based organization;

  • Business trust means a trust created for the purpose of making a profit through the combination of capital contributed by the beneficiaries of the trust and through the administration or management of the capital by trustees or a person acting on behalf of the trustees, for the benefit of the beneficiaries;

  • DSTA means the Delaware Statutory Trust Act (12 Del. C. § 3801, et seq.), as amended from time to time;

  • Academy Trust shall include any company in which the Academy Trust: • holds more than 50% of the shares; or • controls more than 50% of the voting rights attached to the shares; or • has the right to appoint one or more directors to the board of the company.