a thesis - Institute of Advanced Legal Studies

RESULTING TRUSTS. 91
to give the transferee the whole beneficial interest, there is a
resulting trust if
(a) No trust is expressed by the owner, or
(b) The trust expressed by him is incapable of taking effect, or
(c) The trust or other purpose for which the transfer is made is
completely executed without exhausting the property.
The following cases afford illustrations of trusts of this kind:—
Illustrations.
(a) No Trust declared.
1. A. devises real estate to " my trustees," but declares no trusts
of the property. The trustees hold it in trust for the testator's
heir. See per Lord Eldon in Dawson v. Clark (1811), 18 Ves. 247.
2. Testator gives to the trustees of Mount Zion Chapel 3,500/.,
and appoints as trustees to the same A. and GK, "the money to be
appropriated according to statement appended." There is no
statement appended. The 3,5007. falls into the residue. Aston v.
Wood (1868), L. E. 6 Eq. 419.
3. Testator devises and bequeaths all his estate and effects to
trustees, their heirs, executors, and administrators, upon trusts only
applicable to personalty. There is a resulting trust of testator's
real estate to his heir. Long ley v. Long ley (1871), L. R. 13 Eq. 133.
4. A. transfers to his son B. shares in the X. Company. His
reason for doing so, though not stated by him, appears to be to
qualify B. to be appointed director of the company. B. always
hands the dividends to A., and A. keeps the share certificates.
B. is a trustee for A. In re Gooch, Gooch v. Gooch (1890), 62
L. T. 384.
(b) Trust incapable of being Executed.
5. Testator gives his real and personal estate to trustees upon
trust to sell and convert it into money, and divide the proceeds
between A., B., C. and D. A. and B. predecease the testator.
The trustees must hand their shares, so far as they represent the
proceeds of sale of real estate, to the testator's heir-at-law and, so
far as they represent the proceeds of the personalty, to his next of
kin. Ackroyd v. Smithson (1780), 1 Bro. Ch. 503.