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Simple English definitions for legal terms

Purchase Money Resulting Trust

Read a random definition: de facto adoption

A quick definition of Purchase Money Resulting Trust:

Purchase Money Resulting Trust: When a couple buys a house together but only one person's name is on the title, the law says that the other person still has a right to the house if the title-holder dies without a will. This is called a purchase money resulting trust. The non-title holding partner can get the house if they paid for it too.

A more thorough explanation:

A purchase money resulting trust is a legal concept used in trusts and estates law. It applies to domestic partnerships when both partners contribute to the purchase of a property, but only one partner's name is on the title. If the partner whose name is on the title dies without a will, the purchase money resulting trust is awarded to the non-title holding partner.

This means that the non-title holding partner will receive the property as a result of their contribution to the purchase, even though their name is not on the title. However, this is only true if the non-title holding partner can prove that they gave consideration (such as money or labor) for the property.

John and Jane are in a domestic partnership and decide to buy a house together. They both contribute money towards the down payment, but only John's name is on the title. Unfortunately, John dies without a will. Because they were in a domestic partnership and both contributed to the purchase, Jane can claim a purchase money resulting trust and receive ownership of the house.

Another example could be a situation where a couple buys a car together, but only one person's name is on the title. If that person dies without a will, the other partner may be able to claim a purchase money resulting trust and receive ownership of the car.

Purchase Money Mortgage | Purchase-money collateral

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yeah there are so many good cuisines in ithaca
renard99
22:31
@lilypadfrog: that’s a pity I’da be liking them all
texaslawhopefully
22:31
Only food I’m going to miss for sure if I leave Texas is texmex
22:31
waspy hasnt had thai food in ithaca yet. ithaca thai is so good
^^^^ truuuuuu
22:32
there are two major thai places and they have very similar names bc a divorced husband and wife own them lol
22:32
personally i think taste of thai is better than taste of thai express but thats just me
i had pho tho and it was really good and huge portions
texaslawhopefully
22:32
Glad they have good Thai food, I love Thai food! Can’t wait to visit :)
22:33
when tex goes to ithaca i want to come
Dkk
22:34
Crying Tiger, best Thai dish.
damn im so hungry all i had today was a curry tonkatsu and buldak
and it was a lil baby noodle cup
vvv hungry
22:36
curry tonkatsu so yummeh
22:36
whats even open rn? pizza?
CTB is it i think
22:37
is collegetown pizza not open
22:37
i used to get a slice from there or wings over at like 1am after my shift at the restaurant
Dkk
22:48
Ross Ulbricht free. God Bless Trump. Huge win.
JeremyFragrance
22:54
agreed
texaslawhopefully
22:55
This is an interesting read: https://thedispatch.com/article/birthright-citizenship-trump-implications/
Dkk
23:01
I mean, idk how it's possible to end birth right citizenship without amending the constitution because to me the 14th amendment is pretty clear about it.
ross ulbricht tried to hire a hitman to kill 5 people
i am not that sympathetic to him
Dkk
23:04
@KnowledgeableRitzyWasp: That might have been an FBI agent. It was most likely him and he was most likely doing it to retrieve stolen funds that corrupt FBI agents stole, but yeah moral gray area but me personally, cool with hitmen. It's not like it is uncommon to hire hitmen. I don't think the action itself is necessarily wrong but the intent behind it can be.
Dkk
23:05
Like, Boeing whistblowers being killed by hitmen = wrong but a guy hiring hitmen to retrieve stolen funds = good to me.
texaslawhopefully
23:05
@Dkk: Yeah, for sure. My guess is it'll go to SCOTUS and it'll be 8-1 or 7-2, saying that EO was unconstitutional.
Dkk
23:06
Indeed. I need a count for how many exectuive orders he has signed and how many already have pending lawsuits.
i've been away for a while what were the most recent waves? any this week?
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