Can a party who receives funds from a parent to their adult child to be considered a gift from the parent to the adult child have to prove that the transfer is a resulting trust?
British Columbia, Canada
The following excerpt is from Byrne v. Byrne, 2015 BCSC 318 (CanLII):
Payments from a parent to an adult child are generally not presumed to be gifts; they are presumed to form a resulting trust in which the parent keeps an interest in the property. However it is open to a party claiming the transfer is a gift to rebut the presumption of a resulting trust by providing evidence to that effect: Pecore v. Pecore, 2007 SCC 17.
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