purchase money resulting trust

Definition of "purchase money resulting trust"
  1. A type of trust that is established, unless prohibited by law, when one person buys a property with the title under another person's name using their own funds
How to use "purchase money resulting trust" in a sentence
  1. If a father uses his own funds to buy a house and puts the title under his son's name, a purchase money resulting trust may be created.
  2. John claimed that a purchase money resulting trust was created when he bought the car but put it under his friend's name.
  3. When Sally used her money to buy the apartment under her brother's name, it could be seen as a potential case of a purchase money resulting trust.

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