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:
“Letters have to pass two tests before they can be classed as good: they must express the personality both of the writer and of the recipient.”
—E.M. (Edward Morgan)
“The only way to make a man trustworthy is to trust him.”
—Henry Lewis Stimson (1867–1930)