72-38-121. Resulting trust upon full performance of trust. When the owner of property gratuitously transfers it subject to a trust that is properly declared and that is fully performed without exhausting the trust estate, the trustee holds the surplus as a resulting trust for the transferor or the transferor's estate unless the transferor manifested in the trust instrument an intention that no resulting trust of the surplus should arise.
History: En. Sec. 15, Ch. 264, L. 2013.
Structure Montana Code Annotated
Title 72. Estates, Trusts, and Fiduciary Relationships
Chapter 38. Montana Uniform Trust Code
72-38-105. Default and mandatory rules
72-38-106. Common law of trusts -- principles of equity
72-38-108. Principal place of administration
72-38-109. Methods and waiver of notice
72-38-110. Others treated as qualified beneficiaries
72-38-111. Nonjudicial settlement agreements
72-38-112. Rules of construction
72-38-113. Insurable interest of trustee
72-38-114. through 72-38-119 reserved
72-38-120. Resulting trust upon failure of trust
72-38-121. Resulting trust upon full performance of trust
72-38-122. Purchase money resulting trust
72-38-124. Resulting trusts -- constructive trusts -- statute of frauds
72-38-125. through 72-38-129 reserved
72-38-130. Scope and effect of part -- proposed action or inaction described
72-38-131. When use of notice authorized
72-38-133. Objection to proposed action or inaction -- petition -- liability of trustee