Ga. Code § 53-12-130

Current through 2023-2024 Legislative Session Chapter 709

Section 53-12-130 - Resulting trusts

A resulting trust is a trust implied for the benefit of the settlor or the settlor's successors in interest when it is determined that the settlor did not intend that the holder of the legal title to the trust property also should have the beneficial interest in the property under any of the following circumstances:

(1) A trust is created but fails, in whole or in part, for any reason;

(2) A trust is fully performed without exhausting all the trust property; or

(3) A purchase money resulting trust as defined in subsection (a) of Code Section 53-12-131 is established.

OCGA § 53-12-130

Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.