New York § 7-1.3 Purchase-money resulting trust abolished

New York Statutes

§ 7-1.3 — Purchase-money resulting trust abolished

New York § 7-1.3

Law EPTEstates, Powers & Trusts

Part 1Rules Governing Trusts

Art. 7Trusts

This text of New York § 7-1.3 (Purchase-money resulting trust abolished) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Estates, Powers & Trusts § 7-1.3 (2026).

Text

§ 7-1.3 Purchase-money resulting trust abolished\n  (a) A disposition of property to one person for a valuable\nconsideration paid, in whole or in part, by another is presumed\nfraudulent as against the creditors of the payor at the time of such\ndisposition and, unless the presumption is rebutted, a trust results in\nfavor of such creditors to the extent necessary to satisfy their claims;\nbut title to the property vests in the transferee and no trust results\nto the payor unless the transferee either:\n  (1) Takes such property, in his own name, as an absolute transfer\nwithout the consent or knowledge of the payor; or\n  (2) In violation of some trust, purchases the property so transferred\nwith money or property belonging to another.\n

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§ 7-1.3 Purchase-money resulting trust abolished\n (a) A disposition of property to one person for a valuable\nconsideration paid, in whole or in part, by another is presumed\nfraudulent as against the creditors of the payor at the time of such\ndisposition and, unless the presumption is rebutted, a trust results in\nfavor of such creditors to the extent necessary to satisfy their claims;\nbut title to the property vests in the transferee and no trust results\nto the payor unless the transferee either:\n (1) Takes such property, in his own name, as an absolute transfer\nwithout the consent or knowledge of the payor; or\n (2) In violation of some trust, purchases the property so transferred\nwith money or property belonging to another.\n