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LSDefine

Simple English definitions for legal terms

Resulting Trust

Read a random definition: due proof

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be created when an express trust fails to dispose of the trust property completely or when the purpose of the trust is no longer valid.

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20:07
I am semi proficient in spanish.
20:08
nice same. This sounds bad but I do not like how spanish sounds.
20:09
or english for that matter
20:09
There is nothing wrong with that. I like all the languages. It is tones that annoy me.
20:10
and fabrics
20:14
@GalenMeric: Sorry, tones is what I meant. Are you a wool fabric fan?
20:40
I think my only wool piece is my suits, and I like those quite a bit.
21:11
Wool is the best fabric
21:12
I only buy wool, denim, leather, and loop wheel cotton
21:31
@NemoPropheta: Im on that polyester, nylon, spandex, rayon, and fleece grind fam
21:32
jk but fr: I was watching how to fold dress shirts so they do not wrinkle, and the dude did his folding on a wool blanket so that the wool fibers grabbed the cotton shirt (like velcro), that is smart asf
21:32
That is smart
21:33
I want a weatherwool blanket
21:33
But I hang my shirts but Ive heard arguments against it
21:34
Generally I fold knitwear and hang everything else
21:35
Cant wait to get that big law money and spend it all on clothes 🙏
21:37
@NemoPropheta: his point was to protect the collar at all costs, therefore fold most shirts. I HATE when collars be acting out, so I will adpot his method: https://www.youtube.com/shorts/QaVKudd36zc?feature=share
21:38
oh fr wearin a suit is so fun t. someone who wears a suit seldomly
21:40
Yeah that makes sense, I do hate when my collar stick out at the sides, I cant figure out how to iron them so they maintain their shape
21:48
collar stays may be the answer. also, shirt stays are goated
21:50
@NemoPropheta: those look so nice, but i feel like one spec of dirt or one crease will ruin ur week, even if the money means nothing?
23:18
Idk I like worm i
23:19
bruh
23:19
I like worn in leather, and dirt is easy enough to clean off*
OrangeThing
23:27
Am I still muted on here
OrangeThing
23:27
Oh I guess not
OrangeThing
23:27
Hello all
f$ll to MarqU baby
Ur-
0:34
@OrangeThing: Welcome back Renard99
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