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Constructive trust

Ballentine's Law Dictionary · James A. Ballentine · 1916

Ballentine's Law Dictionary

Exists when property is purchased in the name of one, but the consideration is paid by another and such property will be held by the former in trust for the latter.

See 97 Cal. 575, 33 Am. St. Rep. 209, 21 L. R. A. 33, 32 Pac. 579.