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 canâ€™t afford to accept purchase funds on a â€śno questions askedâ€ť 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.