Express Trust
Where property is passed from an owner to a person an implied express trust, but no gift is made by the owner to that person, it is therefore held for the owner by the person, and this is the Resulting trust; where property should for some reason of public policy or rule of Equity be held by a person for someone other than the legal owner, this is either the Statutory trust or the Constructive trust; but where legal title to property is held by someone 'on trust', this is the Express trust.
Read more about Express Trust: Terms, Common Forms of Express Trust, Forms of Trust Used By UK Taxpayers, Forms of Trust Used By US Persons
Famous quotes containing the words express and/or trust:
“Jesus of Nazareth could have chosen simply to express Himself in moral precepts; but like a great poet He chose the form of the parable, wonderful short stories that entertained and clothed the moral precept in an eternal form. It is not sufficient to catch man’s mind, you must also catch the imaginative faculties of his mind.”
—Dudley Nichols (1895–1960)
“Sometimes I think we’re the only two lawyers in Washington who trust each other.”
—Elizabeth Dole (b. 1936)