Trusts: Constructive and Resulting Trusts

A constructive trust is imposed by a court to prevent unjust enrichment when a person acquires property through fraud, breach of fiduciary duty, or other inequitable conduct.

A resulting trust arises when the purchase price of property is paid by one person and title is taken in the name of another, creating a presumption that the person who paid the purchase price intended to benefit the other person.

A constructive trust is imposed by a court to prevent unjust enrichment, while a resulting trust arises by operation of law when there is a transfer of property without a clear intention to create a trust.

The elements of a constructive trust are unjust enrichment, a fiduciary relationship, and a breach of duty by the fiduciary.

The elements of a resulting trust are a transfer of property, a lack of consideration, and a presumption of intent that the person who paid the purchase price intended to benefit the other person.

The remedy for a breach of trust may include rescission of the trust, damages, injunction, or any other appropriate remedy.

The statute of limitations for a constructive trust is generally the same as for a breach of fiduciary duty, which varies by jurisdiction.

There is generally no statute of limitations for a resulting trust, as it arises by operation of law and is not based on a contract or a breach of duty.

A constructive trust can be created orally in some jurisdictions, but it is generally advisable to have a written trust agreement to avoid disputes.

A resulting trust can be created orally in most jurisdictions, but it is generally advisable to have a written trust agreement to avoid disputes.

A constructive trust is imposed by a court to prevent unjust enrichment, while an implied trust arises by operation of law when there is a transfer of property without a clear intention to create a trust.

A resulting trust arises by operation of law when there is a transfer of property without a clear intention to create a trust, while an express trust is created by a written agreement that clearly states the intention to create a trust.

A constructive trust is imposed by a court to prevent unjust enrichment, while a quasi-contract is created by a court to prevent unjust enrichment when there is no valid contract.

A resulting trust arises by operation of law when there is a transfer of property without a clear intention to create a trust, while a charitable trust is created by a written agreement that clearly states the intention to create a trust for a charitable purpose.

A constructive trust is imposed by a court to prevent unjust enrichment, while a spendthrift trust is created by a written agreement that places restrictions on the beneficiary's ability to access the trust assets.