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US Legal Forms
Trusts
Texas Plaintiff's Original Petition for Disgorgement...

Purchase Money Resulting Trust With Someone You Hurt

Name: Purchase Money Resulting Trust With Someone You Hurt
Brand: US Legal Forms

Category:

Court Samples - Trusts - Petitions

State:

Texas

Control #:

TX-C215

Format:

PDF

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Description

Plaintiff's Original Petition for Disgorgement, Money and Resulting Trust

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Interesting Questions

What is a Purchase money resulting trust?

A Purchase money resulting trust is a legal term in Texas that refers to a situation where you and someone you hurt jointly purchased property using your money.

Why would I need to know about a Purchase money resulting trust?

Understanding Purchase money resulting trust is important if you have shared ownership of property with someone you hurt, as it determines the division of rights and interests in the property.

Is a Purchase money resulting trust recognized in Texas?

Yes, Texas recognizes the concept of a Purchase money resulting trust.

How does a Purchase money resulting trust work?

In a Purchase money resulting trust, the person who contributed the money to purchase the property holds a beneficial interest in the property, even if their name is not on the title.

What happens if I hurt someone and we jointly purchase property?

If you hurt someone and jointly purchase property with them, they may have the right to claim a beneficial interest in the property under the Purchase money resulting trust doctrine.

Can the injured party claim full ownership under a Purchase money resulting trust?

No, the injured party cannot claim full ownership under a Purchase money resulting trust. They can only claim a portion of the beneficial interest in the property equivalent to the amount of money they contributed.

Do I have any rights as the person who hurt someone in a Purchase money resulting trust situation?

Yes, as the person who hurt someone, you still retain legal ownership of the property. However, the injured party has a trust interest in the property.

How do we determine the division of rights in a Purchase money resulting trust?

The division of rights in a Purchase money resulting trust is typically determined based on the amount of money each party contributed towards the purchase of the property.

Can we sell the property if there is a Purchase money resulting trust?

Yes, you can sell the property even if there is a Purchase money resulting trust. However, the injured party may be entitled to a portion of the proceeds based on their beneficial interest in the property.

What should I do if I am involved in a Purchase money resulting trust situation in Texas?

If you find yourself in a Purchase money resulting trust situation in Texas, it is advisable to consult with a legal professional who can guide you through the process and protect your rights.