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.

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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