Classification of Trust : Concise definition



There are state the concise definition of the following trust such as -

  1. Executed Trust:- A trust that is clear and final and can't be used without needing any more instruction or action is known as executed trust.
  2. Executory Trust:- A trust that requires further drafting and/or execution of documents before it is completely effective is called an executory trust. The instrument creating this kind of trust is merely provisional in nature.
  3. Resulting Trust:- A resulting trust is an implied trust that comes into existence by operation of law here property is transferred to someone who pays nothing for it. and then it implied to have held the property for benefiting another person the trust property is said to result in a jump back to the transferor.
  4. Constructive Trust:- A trust that arises operation of law where it would be unconcise for a person who holds the property, The beneficial property of another person in the property.

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