Montana Code 72-38-121. Resulting trust upon full performance of trust
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72-38-121. Resulting trust upon full performance of trust. When the owner of property gratuitously transfers it subject to a trust that is properly declared and that is fully performed without exhausting the trust estate, the trustee holds the surplus as a resulting trust for the transferor or the transferor’s estate unless the transferor manifested in the trust instrument an intention that no resulting trust of the surplus should arise.
Terms Used In Montana Code 72-38-121
- Property: means anything that may be the subject of ownership, whether real or personal, legal or equitable, or any interest therein. See Montana Code 72-38-103
- Trust instrument: means an instrument executed by the settlor that contains terms of the trust, including any amendments thereto. See Montana Code 72-38-103