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nespinal nespinal
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6 years ago
Resulting Trusts. Robert and Everett Kling, two brothers, purchased rental property in Fenton, Missouri. Robert contributed 5,544 and Everett, 5,624 toward the purchase price of 19,005. Title to the property was taken in the name of Everett's wife, Nancy. The brothers maintained an account in which they made deposits and from which they paid expenses related to the rental property. Although each brother had agreed to contribute 20 per month toward the remaining purchase price, Robert never did do so, and Everett consequently increased his contribution to 40 per month. When Robert died, Everett and Nancy claimed 100 percent ownership of the Fenton property. Robert's children, John and Janet, filed suit, claiming that Everett and Nancy held the property as a resulting trust and that they (John and Janet) were entitled to half of the property. Discuss whether a resulting trust had been created and, if so, what the distribution should be.
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preetpatel94preetpatel94
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nespinal Author
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6 years ago
Smart ... Thanks!
hpascoe
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Yesterday
Thanks
taydav
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2 hours ago
Thanks
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