Which of the following is an accurate description of an implied trust?
A)The trustee has the power to choose the beneficiaries and the amounts to be paid to them.
B)The parties clearly intended to create a trust,but did not express that intention.
C)Each beneficiary is identified in the trust deed and has an equal share in the trust.
D)A person has become the legal owner of property as the result of a breach of fiduciary duty.

Question

Quizplus · Accepted Answer

An implied trust is a trust that is created by the actions or circumstances of the parties involved, rather than by a written agreement or formal declaration. In an implied trust, the parties clearly intended to create a trust but did not express that intention. This may be inferred from the conduct or statements of the parties, or from the circumstances surrounding the creation of the trust. The other options are not accurate descriptions of an implied trust.

Which of the Following Is an Accurate Description of an Implied