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2022 Georgia Code
Title 53 - Wills, Trusts, and Administration of Estates
Chapter 12 - Trusts
Article 7 - Implied Trusts
§ 53-12-131. Purchase Money Resulting Trusts
Universal Citation: GA Code § 53-12-131 (2022)
- A purchase money resulting trust is a resulting trust implied for the benefit of the person paying consideration for the transfer to another person of legal title to real or personal property.
- Except as provided in subsection (c) of this Code section, the payment of consideration as provided in subsection (a) of this Code section shall create a presumption in favor of a resulting trust, but such presumption shall be rebuttable by a preponderance of the evidence.
- If the payor of consideration and transferee of the property as provided in subsection (a) of this Code section are husband and wife, parent and child, or siblings, a gift shall be presumed, but such presumption shall be rebuttable by clear and convincing evidence.
History. Code 1981, § 53-12-131 , enacted by Ga. L. 2010, p. 579, § 1/SB 131.
Law reviews.
For comment on Ashbaugh v. Ashbaugh, 222 Ga. 811 , 152 S.E.2d 888 (1966), see 18 Mercer L. Rev. 513 (1967).
For note, “The Significance of Stokes v. Stokes: An Examination of Property Rights Upon Divorce in Georgia,” see 16 Ga. L. Rev. 695 (1982).
For comment, “The Georgia Supreme Court’s Creation of an Equitable Interest in Marital Property — Yours? Mine? Ours!,” see 34 Mercer L. Rev. 449 (1982).
For article, “Are We Witnessing the Erosion of Georgia’s Separate Property Distinction?,” see 13 Ga. St. B.J. 14 (2007).
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