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How to void trace in the Deed of Trust

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all right its time for another definition on the North Carolina real estate show and today we are talking about deed of trust what is the legal definition of a deed of trust it is a security instrument in which the borrower under a promissory note pledges real estate as security for repayment of the money to the lender thats a mouthful what does that really mean in plain language it means someone has borrowed money to buy a house and they have agreed that if they dont repay the money then the lender can foreclose and get the house if youre sitting at my closing table then you have heard me say in the past or you will hear me say when explaining this is it means if you dont pay you dont stay and you only get to keep the house if youre actually making the payments on it so the lender retains the right to take back that asset if youre not paying them the money that you borrowed so a deed of trust often gets confused with a deed theyre not the same thing deed is legal title to the

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How do you identify a resulting trust?

Under existing law a resulting trust arises in two sets of circumstances: (A) where A makes a voluntary payment to B or pays (wholly or in part) for the purchase of property which is vested either in B alone or in joint names of A and B, there is a presumption that A did not intend to make a gift to B; the money or

What is the equitable remedy of tracing?

Technically a process rather than a particular claim or remedy. Tracing may provide an equitable process for the claimant to receive property which he has unjustly lost to a knowing recipient. This may be of use to recover money paid to a fiduciary under a mistake. Tracing - Practical Law Canada thomsonreuters.com thomsonreuters.com

What is the legal definition of resulting trust?

A resulting trust is a common law, equitable remedy in situations where legal title is in one persons name, but that person, because he or she is a fiduciary or gave no value for the property, is under an obligation to return it to the original title owner (meaning the person who gave value for the property). ESTATE LITIGATION - Joint Assets Resulting Trusts - Dentons dentons.com media dentons.com media

What is the rule of tracing?

Tracing arises when the property cannot be returned and the court is asked to recognise an interest in new property, such as whatever the defendant received in exchange for the claimants original property. Tracing can occur at both the common law and equity.

What is the resulting trust in Canada law?

The resulting trust arises by operation of law to return the beneficial ownership of that asset to the person at whose expense it was obtained.

What is the difference between following and tracing?

Tracing is the process of identifying a new asset as the substitute for the old. Following, therefore, is simply establishing who the original owner of property is, where that property is, and returning it to the original owner. Tracing in English law - Wikipedia wikipedia.org wiki TracinginEnglishlaw wikipedia.org wiki TracinginEnglishlaw

What does it mean to trace money?

Tracing transactions through a bank is like any other asset- tracing procedure-you search for the ultimate source of the. funds coming into the bank and you search for the ultimate. disposition of funds leaving the bank.

What is the principle of tracing?

The fundamental idea behind the law of tracing is that sometimes, for certain legal purposes, one asset stands in the place of another. A claim which could have been made in relation to the original asset is allowed in relation to the new asset. The Law of Tracing | Expert insights - Alston Asquith alstonasquith.com insights the-law-of-tra alstonasquith.com insights the-law-of-tra

What is the equitable tracing doctrine?

Tracing allows transmission of legal claims from the original assets to either the proceeds of sale of the assets or new substituted assets. Tracing ordinarily facilitates an equitable remedy, and is subject to the usual limitations and bars on equitable remedies in common law countries.

What is the meaning of resulting trust?

A resulting trust is an equitable reversion that arises by operation of law whenever a person has created an express intentional trust, but the express trust fails or does not completely dispose of the trust property.

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How to void trace in the Deed of Trust