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LSDefine

Simple English definitions for legal terms

Resulting Trust

Read a random definition: irrecusable

A quick definition of Resulting Trust:

A resulting trust is a legal concept that happens when someone tries to create a trust, but it doesn't work out. If this happens, the property that was supposed to be in the trust goes back to the person who tried to create the trust.

A more thorough explanation:

A resulting trust is a type of trust that is created by law when a person creates an express trust, but the trust fails or does not completely dispose of the trust property. In this case, the property goes back to the original owner, known as the settlor.

John creates a trust and transfers his house to the trust. The trust document states that the house is to be held for the benefit of John's children. However, John only has one child and the trust document does not specify what should happen to the house if John's child dies before him. In this case, a resulting trust would be created and the house would go back to John as the settlor.

Another example would be if a person creates a trust for a specific purpose, such as to fund a charity, but the charity ceases to exist. In this case, a resulting trust would be created and the property would go back to the settlor.

These examples illustrate how a resulting trust can be created when an express trust fails to dispose of the trust property completely or when the purpose of the trust is no longer valid.

Restrictive covenant | Resume inflation

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HopefullyInLawSchool
16:06
it means you will not be rejected today and may be accepted or WL in the future
Just got my Michigan rejection
BookwormBroker
16:10
same
RoaldDahl
16:10
@HopefullyInLawSchool: what if i already got rejected. does it mean anything
HopefullyInLawSchool
16:12
@RoaldDahl: Likely not however it could mean nothing
RoaldDahl
16:15
So if it means nothing does that mean something?
HopefullyInLawSchool
16:17
Possibly
RoaldDahl
16:26
Cool
RoaldDahl
16:26
thank you!!!! i hope it means something
pinkandblue
16:31
fart
IrishDinosaur
16:36
Mich R gang lesgooo
Did anyone else get that random get to know nova email?
HopefullyInLawSchool
17:21
Ya it was sent to all YM applicants
starfishies
17:37
Anyone get the NDLS email inviting you to apply for something even though they haven’t made a decision on your app yet
17:38
Better yet I got the email and I was rejected last month
starfishies
17:38
Wtf
starfishies
17:39
and the deadline is in like a week what is this
any cardozo movement?
BatmanBeyond
18:01
Sent a LOCI via portal, but I'm wondering if email would have gotten me a swifter response
BatmanBeyond
18:02
This whole hold/wait-list/reserve system is a headache
loci already?
BatmanBeyond
18:09
If the odds are like 1-2% I don't think it matters much by the numbers
12:11
I got the same NDLS email
OrangeThing
12:18
I think the user profiles are broken
19:29
Any word out of Notre Dame?
19:29
Only the invitation to apply for LSE
19:29
Anyone received a decision from NDLS?
19:50
when did u guys apply that just heard from umich? they havent even glanced at my app yet
0:30
how am i supposed to spy on people when profile links are broken?
Right. Broken links smh
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