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If the title says the first person's name followed by the word "and" before listing the second person's name, then both parties must sign the vehicle title. 2. Create a Bill of Sale
The lessor can do the title transfer paperwork on your behalf, but it may charge you a processing fee. The lease buyout title transfer process is similar to a private- or third-party vehicle purchase.
In trust law, a settlement is a deed (also called a trust instrument) whereby real estate, land, or other property is given by a settlor into trust so the beneficiary has the limited right to the property (for example, during their life), but usually has no right to sell, bequeath or otherwise transfer it. Instead the property devolves as ...
Under ancient common law principles, a trust could not exist unless there was at least some "title split" – that is, the same person cannot generally hold all legal and all equitable title at the same time. If the legal and equitable title merge in the same person, the trust is considered nonexistent under the so-called merger doctrine. [96]
A constructive trust is imposed by the law as an "equitable remedy". This generally occurs due to some wrongdoing, where the wrongdoer has acquired legal title to some property and cannot in good conscience be allowed to benefit from it. A constructive trust is, essentially, a legal fiction. For example, a court of equity recognizing a ...
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A resulting trust is an implied trust that comes into existence by operation of law, where property is transferred to someone who pays nothing for it; and then is implied to hold the property for the benefit of another person. The trust property is said to "result" or revert to the transferor (as an implied settlor).
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