Montana Statutes
§ 72-38-120 — Resulting Trust Upon Failure Of Trust
Montana·Title 72 ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS·Ch. 38 MONTANA UNIFORM TRUST CODE·Part 1 General Provisions, Definitions, Constructive and Resulting Trusts, and Notice of Proposed Action by Trustee
72-38-120 . Resulting trust upon failure of trust. When the owner of property gratuitously transfers it and manifests in the trust instrument an intention that the transferee should hold the property in trust but the trust fails, the transferee holds the trust estate as a resulting trust for the transferor or the transferor's estate unless:
(1)the transferor manifested in the trust instrument an intention that no resulting trust should arise; or
(2)the intended trust fails for illegality and the policy against unjust enrichment of the transferee is outweighed by the policy against giving relief to a person who has entered into an illegal transaction.
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Montana § 72-38-120 (Resulting Trust Upon Failure Of Trust) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
En. Sec. 14, Ch. 264, L. 2013.
Nearby Sections
15
§ 72-38-1001
Remedies For Breach Of Trust§ 72-38-1002
Damages For Breach Of Trust§ 72-38-1003
Damages In Absence Of Breach§ 72-38-1004
Attorney Fees And Costs§ 72-38-1005
Limitation Of Action Against Trustee§ 72-38-1006
Reliance On Trust Instrument§ 72-38-1007
Event Affecting Administration Or Distribution§ 72-38-1008
Exculpation Of Trustee§ 72-38-1009
Beneficiary's Consent, Release, Or Ratification§ 72-38-101
Short Title§ 72-38-1010
Limitation On Personal Liability Of Trustee§ 72-38-1011
Interest As General Partner§ 72-38-1012
Protection Of Person Dealing With Trustee§ 72-38-1013
Certification Of Trust§ 72-38-102
Scope