RESULTING TRUST. A trust raised by intplication or construction of law, and presumed to exist from the supposed inten. tion of the parties and the nature of the transaction.
All trusts created by implication or construction of law are often included under the general term implied trusts; but these are cotumonly distin guished into implied or resulting and constructive trusts : reeulting or preeumptive trusts being those which are implied or presumed from the supposed intention of the parties and the nature of the trans aotion ; conetructite trusts, such as are raised inde pendently of any such intention, and which are ...weed on the conscience of the trustee by equi table construction and the operation of law. Story, Eq. Jur. 0 1095 ; giii, Trust. 91; 1 Spence, Eq. Jur. 510; 2 id. 198; 3 Swanst. Ch. 585 ; 1 Ohio, 321; 6 Conn. 285; 2 Edw. Ch. N. Y. 373 ; 6 Humphr. Tenn. 93.
2. Where, upon a purchase of property, the conveyance of the regal estate is taken in the name of one person, while the considera tion is given or paid by another, the parties being strangers to each other, a resulting or presumptive trust immediately arises by vir tue of the transaction, and the person named in the conveyance will be a trustee for the party from whom the consideration proceeds. 30 Me. 126 ; 8 N.H. 187 ; 15 Vt. 525 ; 5 Cush. Mass. 435 ; 10 Paige, Ch. N.Y. 618 ; 2 Green, Ch. N. J. 480 ; 4 Watts & S. Penn. 149 ; 18 Penn. St. 283 ; 2 Harr. Del., 225 ; 1 Md. Cli. Dec.479 ; 7 Leigh, Va. 566 ; 1 Dev. & B. Eq. No. C. 119 ; 4 Des. Eq. So. C. 491; 1 Strobh. Eq. So. C. 103 ; 2 Ga. 297 ; 3 Ala. N. s. 302 ; 6 id. 404; 20 Miss. 65, 764 ; 6 Humphr. Tenn. 93 ; 4 J. J. Marsh. Ky. 592 ; 1 Ohio St. 1 ; 2 Blackf. Ind. 198, 444 ; 5 III. 35 ; 10 id. 534 ; 14 Mo. 580 ; 9 Ark. 519 ; 2 Tex. 139 ; 1 Iowa, 566 ; 3 Mas. C. C. 362 ; 2 Wash. C. C.
441.
The fact that a conveyance is voluntary, especially when accompanied by other cir cumstances indicative of such an intention, it is said, may raise a resulting trust. See 2 Vern. Ch. 473 ; 3 Swanst. Ch. 593; Amid. 265 ; 1 Curt. C. C. 230 ; 23 Penn. St. 243 ; 29 Me. 410 ; 1 Johns. Ch. N. Y. 240 ; 1 Dev. Eq. No. C. 456 ; 14 B. Monr. Ky. 585.
Where a voluntary, 1 Atk. Ch. 188, dispo sition of property hy- deed, 1 Dev. Eq. No. C. 493, or will is made to a person as trustee, and the trust is not declared at all, 10 Yes. Ch. 527 ; 19 id. 359 ; 3 Sim. Ch. 538 ; 14 id. 8; 16 id. 124 ; 6 Hare, Ch. 148, or is ineffec tually declared, 10 Yes. Ch. 527; 17 Jur. 798 ; 19 id. 273 ; 1 Mylne & K. 298 ; 1 Mylne & C. 286; 13 Sim. Ch. 496 ; 2 Dev. Eq. No. C. 255, or does not extend to the whole interest given to the trustee, 2 Powell, Dev. Jarm. ed. 32 ; 8 Pet. 326 ; 14 B. Monr. Ky. 585; 2 Smale & G. 247 ; 3 Hou. L. Cas. 492 ; 2 Vern. Ch. 644, or it fails either wholly or in part by lapse or otherwise, 1 Roper, Leg. 627 ; 5 Harr. & J. Md. 392 ; 6 id. 1 ; 5 Paige, Ch. N. Y.'318 ; 6 [red. Eq. No, C. 137 ; 7 B. Monr. Ky. 481 ; 15 Penn. St. 500 ; 10 Hare, Ch. 204, the in terest so undisposed of will be held by the trustee, not for his own benefit, but as a re sulting trust for the donor himself, or for his heir at law or next of kin, according to the nature of the estate.
The property may be personal or real. 8 Humphr. Tenn. 447 ; 1 Ohio St. 10 ; 26 Miss. 615 ; 2 Beav. Rolls, 454; 10 Ves. Ch. 365 ; 17 id. 253 ; 2 Washburn, Real Prop. 171.
Consult Story, Eq. Jur. 1195 et seq. ; 1 Spence, Eq. Jur. 510 ; Adams, Eq. Jur. ; Hill, Lewin, Sanders, on Trusts ; 2 Wash burn. Real Prop. 171 et seq.