Would you get caught in a trust vs. gift dispute when handling purchase funds?
It can be uncomfortable to talk about money. When handling real estate purchases and domestic contracts, however, lawyers can’t afford to accept purchase funds on a “no questions asked” basis.
Why not? Because if purchase funds come from somebody other than the prospective owner, the doctrine of resulting trust presumes that, regardless of who is on title, the owner holds the property in trust for whoever advanced the funds.
In this article from the February 2015 issue of LAWPRO Magazine, Lisa Weinstein (VP, TitlePLUS) explains how to reduce the risk of a claim related to a trust vs. gift dispute.
Categories: Real Estate
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