O.C.G.A.
O.C.G.A.

O.C.G.A. § 53-12-26 (2019)

Additions to trust property

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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Property may be added to an existing trust from any source in any manner if the addition is not prohibited by the trust instrument and the property is acceptable to the trustee.

History

Code 1981, § 53-12-26, enacted by Ga. L. 2010, p. 579, § 1/SB 131.

Annotations

JUDICIAL DECISIONS Editor’s notes. - In light of the similarity of the provisions, decisions under former O.C.G.A. § 53-12-25 of the 1991 Trust Act are included in the annotations for this Code section.

Cited in Telfair v. First Union Mortg. Corp., 216 F.3d 1333 (11th Cir. 2000); Forsyth County v. White, 272 Ga. 619, 532 S.E.2d 392 (2000).

Notes of Decisions
Cited in 16 cases, 1983–1998 · leading case: Est. of Spruill v. Comm'r, 88 T.C. 1197 (Tax Ct. 1987).
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Est. of Spruill v. Comm'r, 88 T.C. 1197 (Tax Ct. 1987). · cites it 3× “A trust is implied: (1) Whenever the legal title is in one person but the beneficial interest, either from the payment of the purchase money or from other circumstances, is either wholly or partially in another; (2) Where, from any fraud, one person obtains the title to property…”
Lee v. Lee, 392 S.E.2d 870 (Ga. 1990). · cites it 4× “169, 171 ( 244 SE2d 46 ) (1978); OCGA §§ 53-12-26; 53-12-27. A resulting trust is based on the presumed intention of the parties, while a constructive trust is a remedial device created by a court of equity in order to prevent unjust enrichment.”
Nelson v. United States, 821 F. Supp. 1496 (M.D. Ga. 1993). · cites it 4× “O.C.G.A. § 53-12-26 (1982). 6 An implied trust occurs when one party pays for property that is transferred in the name of another party.”
Weiner v. Goldberg, 306 S.E.2d 660 (Ga. 1983). · cites it 4× “566 ( 181 SE2d 861 ) (1971). Further, where the deceased has allowed a policy to lapse in derogation of the decree and has acquired a new policy and designated a new beneficiary, this, without more, will not give rise to a constructive trust under OCGA § 53-12-26 (former Code…”
Dixon v. Murphy, 385 S.E.2d 408 (Ga. 1989). · cites it 4× “NOTES [1] The relief sought is governed by OCGA § 53-12-26, relating to implied trusts.”
Fowler v. Montgomery, 326 S.E.2d 765 (Ga. 1985). · cites it 4× “See OCGA § 53-12-26; Cassels v. Finn, 122 Ga.”
Kelly v. Johnston, 373 S.E.2d 7 (Ga. 1988). · cites it 2× “However, we hold that the alleged fraudulent acts of Alton are sufficient to authorize equity to impose a trust upon Pauletta’s share of the proceeds.”
Watkins v. Watkins, 344 S.E.2d 220 (Ga. 1986). · cites it 2× “The court relied on OCGA § 53-12-26 (2), which provides a trust will be implied “[w]here, from any fraud, one person obtains the title to property which rightly belongs to another.”
Palmer v. Forrest, Mackey & Assocs. Inc., 304 S.E.2d 704 (Ga. 1983). · cites it 2× “Such finding should have put the purchaser on notice not to contract with the builder, at least not until after the builder acquired record title. Hence the purchaser enabled the builder to inflict the injury.”
Georgia Farm Bureau Mut. Ins. v. Smith, 346 S.E.2d 848 (Ga. Ct. App. 1986). · cites it 2× “” OCGA § 53-12-26. Clearly, the jury in this case was authorized to find that an implied trust resulted in favor of Thomas when plaintiffs jointly purchased the subject property from their brother in 1972 but the deed transferring title named only James as the grantee.”
Page v. Wheale, 385 S.E.2d 402 (Ga. 1989). · cites it 2× “Wheale also appeals that part of the judgment denying his request for attorney fees.”
Atlanta-East, Inc. v. Laird, 501 S.E.2d 202 (Ga. 1998). · cites it 2× “Oakes (who created the Trust along with Margaret McCorkle), and to the Bank in payment for its services as Trustee.”
Show all 16 citing cases →
— 53-12-26(1) — 1 case
Nelson v. United States, 821 F. Supp. 1496 (M.D. Ga. 1993). “O.C.G.A. § 53-12-26 (1982). 6 An implied trust occurs when one party pays for property that is transferred in the name of another party.”
— 53-12-26(2) — 1 case
Mitsubishi Int'l Corp. v. Cardinal Textile Sales, Inc., 14 F.3d 1507 (11th Cir. 1994).
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.