TRUST, DEFINED

Land Titles And Deeds

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TRUST, DEFINED
> A trust is a fiduciary relationship with respect to property which involves the existence
of equitable duties imposed upon the holder of the title to the property to deal with it for
the benefit of another
> A person who establishes a trust is called the trustor while the one whose confidence
is reposed is the trustee, and the person for whose benefits the trust has been created
is referred to as the beneficiary
> It is the right to the beneficial enjoyment of property, the legal title to which is vested in
another

PARTY ACQUIRING PROPERTY

BY MISTAKE CONSIDERED
TRUSTEE OF AN IMPLIED
TRUST

NO TRUST CAN RESULT IN

FAVOR OF A PARTY WHO IS
GUILTY OF FRAUD OR
VIOLATES PUBLIC POLICY
> There can be no implied trust where the purchase is made in violation of an existing
statute and in evasion of its express provision, since no trust can result in favor of the
party who is guilty of the fraud

NO PARTICULAR FORM
REQUIRED BY LAW WITH
REGARD TRUSTS
PRESCRIPTIVE PERIOD
> Ten years from the repudiation of the trust
> It is ten years because just as a resulting trust is an offspring of the law, so is the
corresponding obligation to convey the property and title thereto to the true owner.
> Reckoning point of repudiation is from the moment his possession thereof becomes
adverse

TRUSTS, HOW EXPRESSED

AND REGISTERED

> If a deed or other instrument is filed in order to transfer registered land in trust, or
upon any equitable condition or limitation expressed therein, or to create or declare a
trust or other equitable interests in such land without transfer, the particulars of the trust,
condition, limitation or other equitable interest shall not be entered on the certificate but
only a memorandum thereof shall be entered by the words in trust, or upon condition,
or other apt words, and by a reference by number to the instrument authorizing or
creating the same
> A similar instrument shall be made upon the original instrument creating or declaring
the trust or other equitable interest with a reference by number to the certificate of title to
which it relates and to the volume and page in the registration book in which it is
registered
> No instrument which transfers, mortgages, or in any way deals with registered land in
trust shall be registered, unless the enabling power thereto is expressly conferred in the
trust instrument or unless a final judgment or order of court of competent jurisdiction has
construed the instrument in favor of
the power, in which case a certified copy of such judgment or order may be registered

IF A NEW TRUSTEE OF
REGISTERED LAND IS
APPOINTED BY THE COURT, A
NEW CERTIFICATE MAY BE
ISSUED TO HIM UPON
PRESENTATION TO THE RD OF
A CERTIFIED COPY OF THE

ORDER OR JUDICIAL
AGREEMENT AND THE
SURRENDER FOR
CANCELLATION OF THE
DUPLICATE CERTIFICATE
REGISTRATION OF CLAIM
BASED ON IMPLIED TRUST
> For the protection of persons claiming an interest in registered land by reason of an
implied trust, he should file with the RD a sworn statement
o Containing the description of the land
o The name of the registered owner
o A reference to the number of the certificate of title