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:
“You should go to picture-galleries and museums of sculpture to be acted upon, and not to express or try to form your own perfectly futile opinion. It makes no difference to you or the world what you may think of any work of art. That is not the question; the point is how it affects you. The picture is the judge of your capacity, not you of its excellence; the world has long ago passed its judgment upon it, and now it is for the work to estimate you.”
—Anna C. Brackett (1836–1911)
“I trust you because I need you.”
—Mason Cooley (b. 1927)