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)
  1. 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.
  2. 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.
  3. 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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