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LSDefine

Simple English definitions for legal terms

Resulting Trust

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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be created when an express trust fails to dispose of the trust property completely or when the purpose of the trust is no longer valid.

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16:16
prolly named veronica or sarah
windyMagician
16:16
@Dkk: for public defense tho?
windyMagician
16:16
Sarah in the bathroom
texaslawhopefully
16:17
@windyMagician: not at all. Michigan is also very generous with aid, so if you get enough it makes perfect sense to take it.
windyMagician
16:17
fuck okay
windyMagician
16:17
going to my dream school is crazy
michigan also has better options if you do PD for 10 years then want to do something else
windyMagician
16:19
also would love to clerk for my federal district court even tho I know its hella competitive, I think mich sets me up better?
16:20
would be a great point to bring up when ur deciding / visiting each place- see what recent placement looks like
texaslawhopefully
16:23
For fed clerkships by far Michigan places better. I think it’s like 14-15 percent
windyMagician
16:25
sticker debt is high-key scary tho
texaslawhopefully
16:26
I’m sure you’ll get good merit aid though. Look at Michigan’s 509 report. They’re very generous.
16:34
i am going to wait patiently into january to get into a law school
16:34
then i will start tweaking
texaslawhopefully
16:42
January could not come any sooner
16:54
i hope you guys all have a very lovely holiday season
17:02
has everyone finished procuring their presents?
17:02
I got my sis a vintage leather jacket off ebay she’s gonna freak she only has fake stuff
hi all
CynicalOops
17:14
Ive been slacking so hard on tickets fawk
CynicalOops
17:14
Wait
CynicalOops
17:14
Presents
CynicalOops
17:14
Im just gonna get everyone tickets so thats why i said that
jackfrost11770
17:14
people are so stupid on the internet its crazy
CynicalOops
17:15
T5 soft
windyMagician
17:18
that and the post asking for low gpa success stories along with every other identifying detail
i should be a vtuber so i can finally realize my dream of becoming an anime girl
17:23
@CynicalOops: tickets to what?
CynicalOops
17:26
I got my brother tickets to a golf tournament and im going to get my mom ski lift tickets because she just moved near a ski resort
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