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TRUST

OUTLINE for THE FIRST SESSION

I. NATURE AND CLASSIFICATION OF TRUST

A. Definition and Essential Characteristic of Trust

Article 1440

Morales v. C.A. G.R. No. 117228. June 19, 1997

1. Based on Equity

Article 1442

2. As Distinguished from Agency

B. Kinds of Trust

Article 1441

1. Express Trusts

a. Essence and Definition of Express Trusts

Article 1441

b. Essential Characteristics of Express Trusts

Article 1444

Julio v. Dalandan G.R. No. L-19012 October 30, 1967

Canezo v. Rojas G.R. No. 148788 November 23, 2007

Guy v. C.A. G.R. No. 163707 September 15, 2006

Pacheco v. Arro G.R. No. 48090. February 16, 1950

i. Nominate and Principal

ii. Unilateral

iii. Primarily Gratuitous


iv. Real

v. Preparatory

vi. Fiduciary

c. Express Trust must be Proven

d. Kinds of Express Trust

i. Express Trust involving Immovable

Article 1443

Gamboa v. Gamboa

ii. Contractual / inter vivos Trust

iii. Testamentary Trust

Gov’t. of the Phil. Islands v. Abadilla

iv. Pension or Retirement Trusts

v. Charitable Trusts

e. Parties to an Express Trust

Article 1440

Rel. to Article 1445 and Rule 98 of Rules of Court

f. How Express Trust Terminated

i. Destruction of the Corpus

ii. Revocation by the Trustor

iii. Achievement of Objective, or Happening of the Condition


Provided for in the Trust Instrument

iv. Confusion or Merger of Legal Title and Beneficial Title in the


Same Person
vi. Breach of Trust

vii.Upon the Death of Trustee

viii. Generally Express Trusts Not Susceptible to Prescription