South Dakota Statutes

§ 55-1-9 — Implied trust created by transfer of property in violation of trust.

South Dakota·Title 55 FIDUCIARIES AND TRUSTS·Ch. 55-1 CLASSIFICATION AND CREATION OF TRUSTS

Everyone to whom property is transferred in violation of a trust holds the same as an implied trustee under such trust, unless he purchased it in good faith and for a valuable consideration.

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South Dakota § 55-1-9 (Implied trust created by transfer of property in violation of trust.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Related

Gilbert v. United National Bank

436 N.W.2d 23 (South Dakota Supreme Court, 1989)

28 case citations

Legislative History

SDC 1939, § 59.0102 (3).

Nearby Sections

15

§ 55-1-1

Purposes for which trust may be created.

§ 55-1-10

Transfer of real property to one for money paid by another--Trust presumed.

§ 55-1-11

Implied trust--Declaration by court of equity.

§ 55-1-12

Trustor, trustee, beneficiary, power of appointment, and person defined.

§ 55-1-13

Voluntary trustee--Assumption of relationship.

§ 55-1-14

Interest in existing trust--Transfer by operation of law or written instrument.

§ 55-1-15

Certain trusts not terminated upon trustor's death.

§ 55-1-2

Trusts classified.

§ 55-1-20

Trusts for noncharitable purposes.

§ 55-1-21

Trust for care of animal, care of other property, or other lawful noncharitable purpose.

§ 55-1-21.1

Termination of trust for care of animal.

§ 55-1-21.10

Trustee may not use principal and income other than for trust's purposes.

§ 55-1-21.11

Co-enforcer appointment--Powers.

§ 55-1-21.2

Judicial reduction of property transferred to trustee if trust corpus exceeds amount required for intended purposes.

§ 55-1-21.3

Court order where fulfillment of purposes are impossible, inexpedient, or unlawful.

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