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Dictionary of Law |
resulting trust :: legal definitionResulting trust - n. a trust implied by law (as determined by a court) that a person who holds title or possession was intended by agreement (implied by the circumstances) with the intended owner to hold the property for the intended owner. Thus, the holder is considered a trustee of a resulting trust for the proper owner as beneficiary. Although a legal fiction, the resulting trust forces the holder to honor the intention and prevents unjust enrichment. Example: Mahalia leaves $100,000 with her friend, Albert, while she is on a trip to Europe, asking him "to buy the old Barsallo place if it comes on the market." Albert buys the property, but has title put in his own name, which the court will find is held in a resulting trust for Mahalia. A resulting trust differs from a "constructive trust," which comes about when someone by accident, misunderstanding or dishonesty comes into possession of property belonging to another. See also: constructive trust trust and Related Law Terms ↓ Related Law Termsabeyance :: 1) n. when the owner- ship of property has not bee ... 2) legal jargon for "undetermined."abstract of title :: n. the written report on a title search which show ... e also: chain of title title report adverse possession :: n. a means to acquire title to land through obviou ... o: possession prescriptive easement alimony :: n. support paid by one ex-spouse to the other as o ... ild support divorce spousal support arrest :: v. 1) to take or hold a suspected criminal with le ... anda warning probable cause warrant attachment :: n. the seizing of money or property prior to getti ... bond. See also: writ of attachment bankruptcy :: n. a federal system of statutes and courts which p ... y proceedings trustee in bankruptcy breach :: 1) n. literally, a break. A breach may be a failur ... breach of trust breach of warranty breach of warranty :: n. determination that a statement as to title of p ... See also: implied warranty warranty capital gains :: n. the difference between the sales price and the ... so: basis delayed exchange exchange chain of title :: n. the succession of title ownership to real prope ... title conveyance foreclosure title cloud on title (cloud) :: n. an actual or apparent outstanding claim on the ... ion reconveyance title title report color of title :: n. the appearance of having title to personal or r ... rty based on this "color of title." commingling :: n. the act of mixing the funds belonging to one pa ... rust accounts for funds of another. condemn :: v. 1) for a public agency to determine that a buil ... condemnation action eminent domain condition precedent :: n. 1) in a contract, an event which must take plac ... o the property. See also: condition condominium :: n. title to a unit of real property which, in real ... ium projects. See also: common area constructive :: adj. a legal fiction for treating a situation as i ... ctive possession constructive trust constructive possession :: n. when a person does not have actual possession, ... possession. See also: constructive constructive trust :: n. when a person has title to property and/or take ... tence. See also: constructive trust contractor :: n. 1) a person or entity that enters into a contra ... actor mechanic's lien subcontractor covenant :: 1) n. a promise in a written contract or a deed of ... o compete deed restrictive covenant dedication :: n. the giving of land by a private person or entit ... perty. See also: quiet title action deed :: 1) n. the written document which transfers title ( ... veyance deed of trust warranty deed deed of trust :: n. a document which pledges real property to secur ... : foreclosure mortgage reconveyance defect :: n. an imperfection, quite often so great that the ... See also: defective defective title defective title :: n. an apparent title to real property which fails ... so: chain of title defect defective easement :: n. the right to use the real property of another f ... rstandings at the time of creation. eminent domain :: n. the power of a governmental entity (federal, st ... ngs. See also: condemn condemnation equity :: n. 1) a venerable group of rights and procedures t ... ry enjoin equitable injunction writ eviction :: n. a generic word for the act of expelling (kickin ... ve eviction lease unlawful detainer execution :: n. 1) the act of getting an officer of the court t ... so: death penalty writ of execution fee tail :: n. an old feudal expression for a title to real pr ... rest only. See also: fee fee simple foreclosure :: n. the system by which a party who has loaned mone ... ced sale mortgage notice of default foreclosure sale :: n. the actual forced sale of real property at a pu ... dicial sale mortgage sheriff's sale fraud :: n. the intentional use of deceit, a trick or some ... audulent conveyance intrinsic fraud garnish :: v. to obtain a court order directing a party holdi ... ed. See also: garnishee garnishment grant :: v. to transfer real property from a title holder ( ... deed grantee grantor quitclaim deed grant deed :: n. the document which transfers title to real prop ... rant grantee grantor quitclaim deed habeas corpus :: (hay-bee-us core-puss) n. Latin for "you have the ... nality of a state court conviction. hostile possession :: n. occupancy of a piece of real property coupled w ... verse possession quiet title action implied warranty :: n. an assumption at law that products are "merchan ... er. See also: caveat emptor implied indispensable party :: n. a person or entity which must be included in a ... tion to join Olivia as a defendant. invitee :: n. a person who comes onto another's property, pre ... ail employees. See also: negligence joint tenancy :: n. a crucial relationship in the ownership of real ... ty property tenancy in common title juvenile court :: n. a special court or department of a trial court ... See also: court juvenile delinquent laches :: n. the legal doctrine that a legal right or claim ... , breach of contract, fraud, etc.). lien :: n. any official claim or charge against property o ... ord's lien mechanic's lien mortgage lis pendens :: (lease pen-dense) n. Latin for "a suit pending," a ... ob can be penalized by court order. living trust :: n. sometimes called an inter vivos (Latin for "wit ... thrift clause trust trustee trustor marital deduction :: n. an estate tax deduction allowed a surviving spo ... community property estate tax trust marketable title :: n. the title to real property which has no encumbr ... e. See also: contract real property mechanic's lien :: n. the right of a craftsman, laborer, supplier, ar ... ll sue for the debt. See also: lien merger :: n. 1) in corporate law, the joining together of tw ... and taking one, and wife the other. mortgage :: n. a document in which the owner pledges his/her/i ... losure notice of default trust deed nominal party :: n. a defendant or a plaintiff included in a lawsui ... ed. See also: necessary party party not guilty by reason of insanity :: n. plea in court of a person charged with a crime ... fense not guilty temporary insanity notice :: n. 1) information, usually in writing in all legal ... Thirty-day notice three-day notice operation of law :: n. a change or transfer which occurs automatically ... atically upon the child turning 18. possession :: n. 1) any article, object, asset or property which ... ctive possession. See also: possess possessory interest :: n. in real estate, the intent and right of a perso ... o: possess possession real property possibility of a reverter :: n. the potential that the title to a real property ... further issue. See also: reversion pour over will :: n. a will of a person who has already executed a t ... invalid trust. See also: trust will quiet title action :: n. a lawsuit to establish a party's title to real ... opposition. See also: notice title quitclaim deed :: n. a real property deed which transfers (conveys) ... also: convey deed grant deed title real estate investment trust :: n. nicknamed REIT, a real estate investment organi ... its upon sale-if there is a profit. reconveyance :: n. in those states which use deeds of trust as a m ... conveyance. See also: deed of trust record :: 1) v. (ree-cored) to put a document into the offic ... eeding race to the courthouse trial reentry :: n. taking back possession and going into real prop ... ages. See also: landlord and tenant remainder :: n. in real property law, the interest in real prop ... ed reversion title vested remainder restraint on alienation :: n. an attempt in a deed or will to prevent the sal ... enant rule against perpetuities use restrictive covenant :: n. 1) an agreement included in a deed to real prop ... o: covenant that runs with the land rule against perpetuities :: n. the legal prohibition against tying up property ... . See also: restraint on alienation stakeholder :: n. a person having in his/her possession (holding) ... ment or agreement. See also: escrow subject to :: adj. referring to the acquisition of title to real ... : assumption deed of trust mortgage subpena duces tecum :: : (suh-pea-nah dooh-chess-take-uhm or dooh-kess-ta ... ng a court order. See also: witness tenancy by the entirety :: n. joint ownership of title by husband and wife, i ... ee also: community property tenancy title :: n. 1) ownership of real property or personal prope ... ink slip real property title search title insurance :: n. a policy issued by an insurance company guarant ... : chain of title title title search title report :: n. the written analysis of the status of title to ... lso: abstract title title insurance title search :: n. the examination of county records for the prope ... e escrow lien title title insurance tort :: n. from French for "wrong," a civil wrong or wrong ... nce slander trespass wrongful death trespass :: n. entering another person's property without perm ... for an illegal purpose is a crime. trust :: n. an entity created to hold assets for the benefi ... testamentary trust trustee trustor trustee :: n. a person or entity who holds the assets (corpus ... es. See also: settlor trust trustor unlawful detainer :: n. 1) keeping possession of real property without ... Thirty-day notice three-day notice use :: n. the right to enjoy the benefits of real propert ... ay it is only of academic interest. will :: n. a written document which leaves the estate of t ... will and testament probate testator Popular Law Searcheslegal definition ministerial act :: n. an act, particularly of a governmental employee ... exercising any individual judgment.chancery legal definition :: n. a court that can order acts performed. Today ch ... ts in most states. See also: equity testamentary disposition legal definition :: n. how the terms of a will divide the testator's ( ... named beneficiaries. See also: will contract of sufferance :: n. a "hold-over" tenancy after a lease has expired ... y tenancy at will unlawful detainer forthwith legal definition :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay. forthwith definition legal :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay. what is to wit in a legal contract :: prep. that is to say. Example: "the passengers in ... tty Bumgartner and Sherry Younger." mirror wills legal definition :: n. the wills of a husband and wife which are ident ... d each names the other as executor. clean hands doctrine latin :: n. a rule of law that a person coming to court wit ... ices. See also: affirmative defense sine qua non only relates to contract law :: (see-nay kwah nahn) prep. Latin for "without which ... qua non of the injury to Playmate. Other Law Terms - Rrace to the courthouse :: n. slang for the rule that the first deed, deed of ... e also: deed judgment lien mortgageRacketeer Influenced Corrupt Organization (RICO) statue :: n. a federal law which makes it a crime for organi ... s to operate legitimate businesses. racketeering :: n. the federal crime of conspiring to organize to ... ("organized crime" or "the Mafia"). ransom :: 1) n. money paid to a kidnapper in demand for the ... ive. See also: abduction kidnapping rape :: 1) n. the crime of sexual intercourse (with actual ... See also: date rape statutory rape ratable :: adj. taxable according to value, such as an estate ... lue, such as an estate or property. ratification :: n. confirmation of an action which was not pre-app ... mployee). See also: agent principal ratify :: v. to confirm and adopt the act of another even th ... ligation. See also: agent principal rational basis :: n. a test of constitutionality of a statute, askin ... imate and constitutional objective. ready, willing and able :: adj. fully prepared to act, as in performing a con ... o act, as in performing a contract. real estate :: n. land, improvements and buildings thereon, inclu ... the future. See also: real property real estate investment trust :: n. nicknamed REIT, a real estate investment organi ... its upon sale-if there is a profit. real party in interest :: n. the person or entity who will benefit from a la ... st is the beneficiary of the trust. real property :: n. 1) all land, structures, firmly attached and in ... onal property real estate reversion realty :: n. a short form of "real estate." See also: real e ... real estate." See also: real estate reasonable :: adj., adv. in law, just, rational, appropriate, or ... ost of other actions or activities. reasonable care :: n. the degree of caution and concern for the safet ... . See also: duty of care negligence reasonable doubt :: n. not being sure of a criminal defendant's guilt ... also: preponderance of the evidence reasonable reliance :: n. particularly in contracts, what a prudent perso ... the following:." See also: contract reasonable speed :: n. the speed of an automobile determined to be low ... e speed limit. See also: negligence |