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An implied trust arises by operation of law. There is no intention by any of the parties that a trust should arise, however, the circumstances are such that it would be in inequitable for the person controlling the property to deny the interest of others.
An implied trust can be either of the following:
- Resulting or presumed trust- the matter is dealt with legally, taking into account all of the evidence. In a resulting trust one person confers title to property on another but refrains beneficial ownership of it.
- Constructive Trust, created for the purpose of being fair to each party.
If you would like more information on trust structures and want to learn more about the most appropriate type of trust or trusts for your situation, please click here to submit an online enquiry form or call us on 1300 QUINNS (1300 784 667) or on +61 2 9223 9166 to arrange an appointment.
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The Quinn Group operates Quinn Consultants, Quinn Lawyers, Quinn Financial Planning and Quinn Financial Solutions. The Quinn Group provides related information in regard to legal, accounting and financial planning issues. Liability limited by a scheme approved under Professional Standards Legislation* *other than for the acts or omissions of financial services licensees.